WSJ: United Auto Workers considering bidding for Chrysler
April 20th, 2007 Leave a comment Visited 212 times, 1 so far today
WSJ: United Auto Workers considering bidding for Chrysler
News media group Wall Street Journal has reported that the United Auto Workers (UAW) union is now considering putting in a bid for the DaimlerChrysler’s Chrysler division in return for cost concessions.
Chrysler is struggling in the US market as they face intense competition from Japanese automakers. DaimlerChrysler has said that they are looking for potential offers for this company.
The report stated that this proposal was put forward by a small group of workers. They could entail swapping cuts in healthcare benefits and other cost concessions for the stake in Chrysler.
Some of the parties said to be interested in acquiring Chrysler are private equity firms Cerberus Capital Management, Blackstone Group and Canadian auto parts maker Magna International Inc.
Billionaire investor Kirk Kerkorian has already submitted his bid for $4.5 billion. DaimlerChrysler has not shown much interest in this offer.
- Comment help
- Get Livefyre
Today's Popular Posts
- Tyson Foods Enters Joint Venture in India (18 views)
- Honda CB Twister 110cc bike launched in India (16 views)
- Amazon launches Kindle Owners' Lending Library for Prime subscribers (16 views)
- Microsoft now targeting Huawei for Android related patent licensing (16 views)
- Tata Sumo Gold edition launched (15 views)
- Porsche Panamera now on sale in India (14 views)
- Indian Oil launches XtraRewards loyalty card for their customers (14 views)
- Disney collaboration with YouTube for online video series (14 views)
- Hyundai India plans to launch 15 new or updated models in the next five years (14 views)
- Chevrolet Beat is a crucial model for GM in India (13 views)
