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DaimlerChrysler to See Bidders, But Not Kerkorian - WSJ


A top DaimlerChrysler executive is scheduled to meet in New York this week with bidders for the German auto maker's Chrysler unit but it appears that billionaire Kirk Kerkorian's Tracinda isn't among those on the invitation list, The Wall Street Journal reported.

DaimlerChrysler Freezes Out Tracinda
DaimlerChrysler Freezes Out Tracinda

Tracinda, which announced a surprise $4.5 billion bid for Chrysler late last week, was working up to the last minute in hopes of being included in the scheduled round of meetings with DaimlerChrysler executive Rudiger Grube, a management-board member and head of strategy, the Journal said. However, a meeting between Grube and Tracinda is not scheduled, people familiar with the matter said in the Journal.

Grube is scheduled on Wednesday to kick off meetings with representatives from the tandem of Blackstone Group and Centerbridge Capital Partners; Cerberus Capital Management; and a partnership between Canadian auto-parts supplier Magna International and private-equity firm Ripplewood Holdings, the Journal said. All have shown interest in purchasing Chrysler.