Automotive News reports that supplier Magna has made a bid for Chrysler Group.

http://www.thecarconnection.com/images/gallery/tmb/11762_SOFHUWZENSUCI.jpg

The bid, according to a financial analyst, was worth between $4.6 and $4.7 billion. The Magna bid is in conjunction with an unnamed private-equity partner.The stake, the paper reports, would equal a 20-percent to 25-percent in the Chrysler Group, depending on how the company is valued. Interestingly, in a statement the analyst says that Magna's bid is admittedly low and could be an attempt at getting a cheap stake in Chrysler in the absence of other bids.



Chrysler did not have a comment on the story.

There is much irony in this story.

Magna is a part supplier to the Big 3.
The Big 3 used to design and manufacture almost everything in their the cars they built - then they outsourced more and more of this engineering and manufacturing and assembly to suppliers like Magna. Soon, instead of them making just a single, individual part, these suppliers were building entire assemblies - like fully completed dash assemblies or the entire drivetrain and selling those back to the Big 3. Now one of the suppliers has grown enough to possibly own one of the Detroit triumvirate that helped create them.

If Chrysler is to go to anyone, Magna would probably be one of the best in terms of their knowledge within the industry.

I wonder what Dr. Z has to say. Let's ask him! :lol:

Vostok 7

I wonder what Dr. Z has to say. Let's ask him! :lol:

Vostok 7

he says buy buy buy!!!

Well thats sad. An auto parts maker purchasing an Automaker. :lol:

i wonder if i bid 1dolla like price is right if i can get it on this.

There is much irony in this story.

Magna is a part supplier to the Big 3.
The Big 3 used to design and manufacture almost everything in their the cars they built - then they outsourced more and more of this engineering and manufacturing and assembly to suppliers like Magna. Soon, instead of them making just a single, individual part, these suppliers were building entire assemblies - like fully completed dash assemblies or the entire drivetrain and selling those back to the Big 3. Now one of the suppliers has grown enough to possibly own one of the Detroit triumvirate that helped create them.

If Chrysler is to go to anyone, Magna would probably be one of the best in terms of their knowledge within the industry.

"Fate, it seems, is not without a sense of irony."

- Morpheus

Well thats sad. An auto parts maker purchasing an Automaker. :lol:
:lol: :lol: :banana: