Kirk Kerkorian has a $4.5 billion offer for Chrysler

Billionaire investor Kirk Kerkorian has announced his USD 4.5 billion offer for the DaimlerChrysler’s struggling US division Chrysler.

DaimlerChrysler has already announced that they are indeed looking for a buyer for their Chrysler division. Incidentally Kerkorian has in the past tried to acquire Chrysler but failed.

He was also once the largest single stake holder in the company. The new offer from his company Tracinda Corp. is contingent on Chrysler working out a favorable labor contract with the United Auto Workers union.

He has also tried enforcing his ideas on the other major US automaker GM after he enhanced his ownership to around 9.9 percent and tried them to get into a deal with Nissan Motor Co. and Renault SA.

Kerkorian further told the parent company DaimlerChrysler that he is ready to put down a $100 million deposit as a sign of good faith. Erich Merkle, an analyst with IRN had this to say about this new offering for Chrysler: “I think Chrysler can probably fetch some place higher than, say, $5 billion. I would imagine if it winds up being Tracinda … it winds up higher than $4.5 billion.”

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