Ford confirmed that it has bid for Hughes Aircraft.
Ford Motor’s disclosure of its a multibillion-dollar offer for Hughes, the defense contractor and satellite maker, was part of updated prospectuses of Ford and its financial arm, Ford Motor Credit Co. The statement did not give any details of the bid. The other known bidders for Hughes are General Motors and Boeing. The nonprofit Howard Hughes Medical Institute of Miami, which owns Hughes Aircraft, may announce its reaction to the bids as early as this week.