Magna, Cerberus, Blackstone Are Chrysler Frontrunners

Magna International Inc., Cerberus Capital Management LLC and a team led by Blackstone Group and Centerbridge Partners LP are frontrunners to buy DaimlerChrysler AG's Chrysler unit, two people familiar with the talks said.

Magna, a Canadian auto-parts manufacturer, and the leveraged-buyout firms have started detailed reviews of the automaker's finances and product plans. DaimlerChrysler executives plan to meet within the next few weeks to pick a favored bidder for the U.S. division, which lost $1.5 billion last year, the people said.

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- Posted: 2007-03-14 10:50:28

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