mastrdrver
03-04-2007, 02:51 AM
Could be a good thing, though it would be nice to see Chrysler back under American ownership.
Detnew.com (http://www.detnews.com/apps/pbcs.dll/article?AID=/20070303/AUTO01/703030366/1148)
The hottest buyout firm on Wall Street is seriously eyeing an acquisition of the Chrysler Group.
Blackstone Group, a private-equity giant with stakes in more than 100 companies, has emerged as a leading contender to buy the troubled U.S. division of German automaker DaimlerChrysler AG, people familiar with the situation told The Detroit News.
Blackstone, led by high-flying Chairman Stephen Schwarzman, is among a handful of corporate suitors that has been given access to confidential business data about Chrysler, which was put up for sale last month.
Other possible buyers include Cerberus Capital Management, which is also trying to acquire bankrupt Delphi Corp., and General Motors Corp., which has been in talks with DaimlerChrysler about a potential Chrysler deal since December.
Additional private-equity firms also could enter the fray in what is shaping up as a heavyweight contest for control of Chrysler, the one-time No. 3 automaker in the U.S.
But it's Blackstone -- armed with a $125 billion corporate war chest -- that for now casts the biggest shadow over Chrysler.
Detnew.com (http://www.detnews.com/apps/pbcs.dll/article?AID=/20070303/AUTO01/703030366/1148)
The hottest buyout firm on Wall Street is seriously eyeing an acquisition of the Chrysler Group.
Blackstone Group, a private-equity giant with stakes in more than 100 companies, has emerged as a leading contender to buy the troubled U.S. division of German automaker DaimlerChrysler AG, people familiar with the situation told The Detroit News.
Blackstone, led by high-flying Chairman Stephen Schwarzman, is among a handful of corporate suitors that has been given access to confidential business data about Chrysler, which was put up for sale last month.
Other possible buyers include Cerberus Capital Management, which is also trying to acquire bankrupt Delphi Corp., and General Motors Corp., which has been in talks with DaimlerChrysler about a potential Chrysler deal since December.
Additional private-equity firms also could enter the fray in what is shaping up as a heavyweight contest for control of Chrysler, the one-time No. 3 automaker in the U.S.
But it's Blackstone -- armed with a $125 billion corporate war chest -- that for now casts the biggest shadow over Chrysler.