Kerkorian: $4.5 Billion CASH for Chrysler Unit

[AKaiser]

Kirk Kerkorian looking at $4. 5 Billion Chrysler Bid.



"Billionaire investor Kirk Kerkorian's Tracinda Corp. on Thursday made a $4. 5 billion cash offer for DaimlerChrysler AG's troubled U. S. -based Chrysler unit.

Tracinda in a statement said it wants 'to build and strengthen' the troubled automaker and'will offer the UAW and Chrysler management the opportunity to participate as equity partners in the transaction. '"

 

[JApol]

It looks like he didn't like the Diamler-Chrysler merger in the first place.

INTERNATIONAL BUSINESS; Kerkorian Loses His Suit Against DaimlerChrysler

April 8, 2005: Federal Judge Joseph J Farnan Jr rules against billionaire investor Kirk Kerkorian in his lawsuit against DaimlerChrysler, picking apart his fraud claims in ruling that came more than year after trial; Kerkorian's investment company Tracinda Corp claimed that it had been deceived by executives of DaimlerBenz and Chrysler about nature of 1998 merger; executives in Germany and US depicted combination as 'merger of equals' but in years since, new company has become dominated by German executives and Chrysler is now run by former Mercedes executive Dieter Zetsche; Daimler's chairman Jurgen Schrempp welcomes decision

 

[JApol]

If you don't succeed the frist time, try at least once more.

Kerkorian offers $50 for 14 million Chrysler shares - Kirk Kerkorian - Ward's Wrapup - Brief Article

July, 1995

In an apparent bid to better position himself for another Chrysler Corp. takeover attempt, Kirk Kerkorian and his Tracinda Corp. announce plans to offer $50 cash per share for up to 14 million shares of the corporation's common stock, "to anyone that wants to sell their stock," says a Tracinda spokesman. At press time the stock is valued at $47. 63. Chrysler spokesperson Rita McKay says the company will review the offer in the 10 days it has to respond "and communicate with our shareholders as appropriate. " Under Michigan law, no one entity is allowed to own more than 10% of an insurance company. Since Chrysler has two small insurance subsidiaries, it falls under that law. Tracinda is taking its case to the Michigan Insurance Commission and Federal Court in Michigan. Chrysler's by-laws limit share ownership to 15%.