Chrysler Close to Sale?
March 30, 2007

Next week could see significant movement in the sale of Chrysler Group.

DaimlerChrysler holds its annual shareholders meeting Wednesday in Berlin. It is possible that bids for Chrysler could be received by the automaker’s investment banking firm, J.P. Morgan Chase, by then. No formal bids had been received as of yesterday.

However, Detroit newspapers are reporting some bids are close to being sent. Three potential buyers supposedly have the inside track: private equity firm Blackstone Group, teaming with Centerbridge Partners; private equity firm Cerberus Capital Management; and Canadian auto supplier Magna International Inc.

The Detroit Free Press reported an Asian link -– from China or India -– is likely, but offers no solid evidence beyond an analyst’s conjecture to support the claim.

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