Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, April 5, 2007

Kerkorian Prepared to Offer $4.5 Billion for Chrysler

Kirk Kerkorian's Tracinda Corp. sent a letter to DaimlerChrysler stating it was prepared to offer $4.5 billion in cash for Chrysler, subject to completing its due diligence, becoming the first to announce publicly an interest in the company.  Kerkorian was a Chrysler shareholder and attempted a takeover prior to Chrysler's 1998 merger with Daimler.  See WSJ, Tracinda Is Prepared to Offer $4.5 Billion to Acquire Chrysler.

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