I'm not sure exactly when it was that Volvo became a division of the Blue Oval, but it really doesn't matter (as far as Ford's concerned). I've actually seen an ad by Ford where they were proudly displaying their past success stories, and along with old Mustang photos, GT 40's, and NASCAR accomplishments, there was a photo of a XKE Jag, along with Volvos too.
It's funny, I can remember when Mr. Ford wanted to buy Ferrari, but I have no recollection of his interest in the XKE, or the Volvo for that matter.