Magna International interested in acquiring Chrysler

Magna International interested in acquiring Chrysler

Magna International Inc. has confirmed in a statement that they are indeed studying the possibility of acquiring the DaimlerChrysler’s Chrysler division.

The Canadian auto parts maker said in its statement that it “continues to review potential alternatives” regarding Chrysler’s future.

However, they have not exactly admitted that the deal would go through. DaimlerChrysler on their part have already said that they are studying possible sale deals for their loss making US division.

U.S. investor Kirk Kerkorian is the only other investor who has publicly made his desire to acquire the US based automaker. However, DaimlerChrysler does not seem to be interested in his bid as the offer is not very high.

Market analysts claim that the company is looking at around USD 8 billion for this unit.