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Old 04-18-2007, 01:00 PM
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Arrow Report: Magna International in advanced talks on Chrysler deal


Magna's Chrysler bid gains steam

The Frankfurter Allgemeine Zeitung reported that Aurora, Ontario-based Magna International is in continuing talks with the German-American automaker about acquiring a majority stake in the Chrysler division, but the paper did not name its sources. The paper said DaimlerChrysler would keep a minority stake in the U.S. division.

Since DaimlerChrysler announced Feb. 14 it was considering all options for its troubled U.S. unit, speculation has mounted that private equity groups likely would make a deal for the division.

Source: [url=http://www.rep-am.com/story.php?id=22439]Waterbury Republican American[/url]
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