Hi, Guest
03-24-2007, 12:47 AM
Analyst: Magna and partner make a bid for Chrysler
Bradford Wernle | Automotive News / March 23, 2007 - 9:05 am
Canadian supplier Magna International Inc. has joined with a private equity group to make an offer to buy the Chrysler group from DaimlerChrysler, according to Brett Hoselton, an analyst for KeyBanc Capital Markets.
Magna and its partner have made an offer to buy Chrysler for $4.6 billion to $4.7 billion, Hoselton says in his March 23 report. He 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.
Magna also is undertaking a strategic review of its interiors business, which includes "all options including operational improvements or the possibility of selling the business entirely," Hoselton added.
Magna could not immediately be reached for comment.
Bradford Wernle | Automotive News / March 23, 2007 - 9:05 am
Canadian supplier Magna International Inc. has joined with a private equity group to make an offer to buy the Chrysler group from DaimlerChrysler, according to Brett Hoselton, an analyst for KeyBanc Capital Markets.
Magna and its partner have made an offer to buy Chrysler for $4.6 billion to $4.7 billion, Hoselton says in his March 23 report. He 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.
Magna also is undertaking a strategic review of its interiors business, which includes "all options including operational improvements or the possibility of selling the business entirely," Hoselton added.
Magna could not immediately be reached for comment.
2008 Fusion SEL MTX - DD1 * 2009 Fusion SEL - DD2 * 2007 Focus ZXW - R*I*P * 2004 Focus ZTW CD Silver - sold * 2004 Focus ZTW Black - sold * 2003 Focus ZTW Black - sold * 2001 Focus ZTW Gold - sold * 2000 Focus SE Wagon (ZTW option) - Black - sold * 2000 Focus SE Wagon (ZTW option) - Gold R*I*P
2003 Focus ZX5 infra-red Track Rat - R*I*P
2003 ZX5 CD Silver Track Rat - retired, but still in the driveway
New track rat: 2000 ZX3, Atlantic Blue * JRSC with lots more to come
* New Zetec crate motor - NFG - thanks Topspeed *
2003 Focus ZX5 infra-red Track Rat - R*I*P
2003 ZX5 CD Silver Track Rat - retired, but still in the driveway
New track rat: 2000 ZX3, Atlantic Blue * JRSC with lots more to come
* New Zetec crate motor - NFG - thanks Topspeed *