BADVELLE
03-23-2007, 05:30 AM
Just saw this on Automotive News.
Canadian supplier Magna International Inc. has joined with a private equity group to make an offer to buy the Chrysler group from DaimlerChrysler.
Magna and its partner have made an offer to buy Chrysler for $4.6 billion to $4.7 billion, according to Brett Hoselton, an analyst for KeyBanc Capital Markets. In his March 23 report, Hoselton cites sources at Magna but does not name the private equity partner.
According to Hoselton, Magna's stake would be worth 20 to 25 percent of the Chrysler group.
"While MGA views its offer as low and unlikely to prevail, the company also views it as an opportunity to purchase an inexpensive stake in the automaker should the other buyers retreat," Hoselton wrote.
Canadian supplier Magna International Inc. has joined with a private equity group to make an offer to buy the Chrysler group from DaimlerChrysler.
Magna and its partner have made an offer to buy Chrysler for $4.6 billion to $4.7 billion, according to Brett Hoselton, an analyst for KeyBanc Capital Markets. In his March 23 report, Hoselton cites sources at Magna but does not name the private equity partner.
According to Hoselton, Magna's stake would be worth 20 to 25 percent of the Chrysler group.
"While MGA views its offer as low and unlikely to prevail, the company also views it as an opportunity to purchase an inexpensive stake in the automaker should the other buyers retreat," Hoselton wrote.