I'm a little confused by this announcement. What exactly is a preferred bidder? What is it about the bidder that would lead Ford to approve Geely over another?
Correct me if I'm wrong, but when you're trying to unload a money-losing asset while taking as small a loss as possible, wouldn't you be more focused on the bid than the bidder?
If I were a Ford shareholder (and I probably am through mutual funds), that's where my concern would lie.