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Old 04-14-2007, 01:00 PM
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Arrow Magna confirms interest in Chrysler


Magna confirms role in possible Chrysler deal

AURORA, Ont. -- Auto parts company Magna International Inc. has acknowledged it's considering taking a run at owning automaker Chrysler.

The company confirmed reports yesterday, saying it's reviewing "potential alternatives."

Magna has said before that it wants to get a "full understanding" of Chrysler's future as it considers making a bid for one of its largest customers.

The company cautioned there's no assurance any deal will be reached.

Magna chief Frank Stronach said the company is in talks with the Onex Corp. conglomerate about teaming up on a bid.

Stronach didn't say how big a bid the two might make.

The troubled automaker is expected to fetch between US$5 billion and US$8 billion.

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Source: [url=http://calsun.canoe.ca/News/National/2007/04/14/4013156-sun.html]Canoe.ca[/url]
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