Blackstone Group might bid for Chrysler

Market sources have claimed that the Private equity firm The Blackstone Group might become a bidder for the US automaker Chrysler which is going through tough times in their domestic market.

An inside source has claimed that they have approached Chrysler and have received due diligence in preparation for a possible bid.

However, it still does not confirm whether a formal bid would be made in the near future. Blackstone has declined to comment on these latest rumors in the market.

General Motors is also rumored to have talked with DaimlerChrysler about an outright acquisition of Chrysler. The two US automakers could also consider an alternative deal to share the assets of the company.

PSA Peugeot Citroen is one global automaker which is clearly stated that they are not interested in bidding for Chrysler. Chief Executive Christiaan Streiff said in a statement: “We don’t have time to look at Chrysler, which isn’t to say that such an operation would be stupid. But to launch this now would be such a distraction of effort that it isn’t possible.”