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Kerkorian makes offer for Chrysler
By KEN THOMAS, Associated Press Writer 1 minute ago
NEW YORK AP) — Billionaire investor Kirk Kerkorian, who lost out in Chrysler's 1998 merger with Daimler Benz, wants to buy the troubled automaker back from its now-unhappy German owners.
Kerkorian's Tracinda Corp. on Thursday made a $4.5 billion cash offer for DaimlerChrysler AG's troubled U.S.-based Chrysler unit.
A deal would put Kerkorian in charge of Chrysler a decade after he claims he was tricked out of a potential billions of dollars in the 1998 deal in which Germany's DaimlerBenz combined with Chrysler.
The offer disclosed Thursday from Kerkorian's Tracinda Corp. is slightly lower than at least one competing bid from Canadian auto-parts supplier Magna International Inc., worth a reported $4.7 billion.
Tracinda said it would place a $100 million deposit for the right to exclusive bargaining rights.
Originally posted by YoBrandonRaps
If you ask me, Chrysler needs all the help they can get. They are floundering in a big big way, and have plans on releasing 20-something new cars over the next few years. They completely screwed themselves with offering employee discounts. It made the cars appear cheap and unwanted to the consumer. I hope he gets the company and hopefully brings about some much needed change to the way they run things.