![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
BUSINESS AFFAIRS * USA - Daimler / Chrysler Group
* Kerkorian vows to be true partners with UAW
Detroit,Mich,USA -The Detroit News, by Bill Vlasic & Josee Valcourt -April 07, 2007: -- Billionaire investor Kirk Kerkorian said he was prepared to pay $4.5 billion for Chrysler, the third time the nearly 90-year-old has tried to take over a car company. He said his investment was contingent on the company reaching a labor deal with the United Auto Workers... In a statement released Friday, the billionaire financier said his plans are nothing short of a "transformation" of Chrysler that aligns the interests of all employees, executives and investors... His comments came as news surfaced Friday that other Chrysler bidders also may seek union support by offering workers part ownership in the automaker...
* 'This is major'
The Chrysler sale process is expected to heat up next week when executives of DaimlerChrysler and its investment banker, J.P. Morgan Chase, begin deeper discussions with bidders... Kerkorian's offer was the last one received by DaimlerChrysler, and came after the three other bidders had already made extensive on-site visits to Chrysler headquarters in Auburn Hills... DaimlerChrysler CEO Dieter Zetsche told shareholders at the company's annual meeting this week that talks were under way with interested parties but declined to give a timetable for a Chrysler sale... The other known bidders are Cerberus Capital Management, a partnership of private-equity firms Blackstone Group and Centerbridge Partners and the Canadian auto supplier Magna International Inc... In his radio remarks, Gettelfinger acknowledged that DaimlerChrysler is likely to divest Chrysler... However, he implied that any deal will take considerable time to negotiate...
Labels: automakers news
posted by Unknown @ 12:22 PM
0 Comments:
Post a Comment
<< Home