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CHRYSLER SUITORS RUSH TO MAKE BIDS
Thu Mar 29 2007 20:40:11 ET
Three potential buyers for the Chrysler Group were said to be finalizing bids Thursday night in hopes of getting the inside track on an acquisition of the U.S. division of DaimlerChrysler AG.
The DETROIT NEWS will report: No formal bids had been received as of late Thursday, but people close to the process said offers are expected from private-equity giants Blackstone Group and Cerberus Capital Management as well as the Canadian auto supplier Magna International Inc.
Blackstone, which is teaming with Centerbridge Partners, was preparing to present its bid as soon as Friday, according to people familiar with the situation.
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