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of the first bidders for the company has been none other then Kirk Kerkorean (of GM fame). The billionaire investor has offered $4.5 billion for the ailing company through his investment firm, Tracinda Corp. Interestingly, the United Auto Workers (UAW) union has supported his bid as well, and he is now seeking negotiations with Chrysler workers. Apart from this veteran investor, other bidders include the automotive parts maker, Magna International and PE firms including Blackstone Group and Cerberus Capital Management. Adding to this excitement are a group of Chrysler workers, who are seeking a stake in the company. Amidst this hoopla, Chrysler has also announced a huge $1.78 billion investment for its Michigan plant. It is believed that Chrysler wants to maintain investor confidence with this announcement.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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