Magna Lowballs Chrysler Bid

March 23, 2007
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If Automotive News has it right—and they almost always do—the day of reckoning at Chrysler might be at hand. Bids are rolling in; Tom LaSorda says whatever happens, will happen soon; and at least one firm offer for a stake in the American automaker’s been taken in. The News says it’s from Magna, and that it amounts to roughly $4.7 billion. Analysts told the paper that the offer could be a lowball shot at getting a cheap stake in Chrysler if no other bidders emerge. The offer could be worth a 25-percent stake – if Daimler-Benz feels like it just has to do something, that is.


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