Tracinda's offer to buy the Chrysler unit of DaimlerChrysler could collapse unless the investment vehicle controlled by billionaire Kirk Kerkorian can find a way to enter into negotiations with the German parent of the U.S. automaker, the Financial Times reports.
Tracinda offered $4.5 billion for Chrysler. But Daimler doesn't consider Tracinda's offer to be serious or on a par with three other groups of potential bidders to invite it into negotiations.
Tracinda demanded exclusive negotiations with Daimler, which many people close to the process believe was an unreasonable demand. Tracinda is taking a wait and see approach.