Chrysler CEO Says Sale Could Come Soon: WSJ

Thursday, 22 Mar 2007 | 11:45 AM ET

Chrysler CEO Tom LaSorda told a small group of auto dealers that the sale of the money-losing automaker could be resolved soon, The Wall Street Journal reported Thursday.

"He assured us that it wouldn't drag on," a dealer said, according to the paper.

Chrysler Sale Update
Chrysler CEO Tom Lasorda tells employees he wants to sell the automaker "quickly." Phil LeBeau, CNBC auto industry reporter, has the story.

In addition, German parent company DaimlerChrysler outlined areas of cooperation it would continue between Chrysler and its Mercedes unit if a sale occurs, the Journal said. A discussion of cooperation indicates that talks with potential buyers are moving to an advanced stage, the paper reported.

The automaker expects to have preliminary offers for Chrysler by the end of the month from at least there groups: Cerberus Capital Management, Canadian auto parts maker MagnaInternational and a joint bid between Blackstone Group and Centerbridge Partners, the Journal said.

According to the Journal, the company would like to tell shareholders at the April 4 annual meeting if wants to continue pursuing a sale or if it will try and turn around Chrysler.

Shares of DaimlerChrysler were up 1.6% in German trading Thursday.

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