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Thursday, April 05, 2007

Impulse Buy

Having recently pulled out of General Motors faster than a Frenchman leaving Oktoberfest, Kirk Kerkorian has made Daimler a $4.5 billion cash offer for Chrysler.

Kerkorian wasn't one of the three bidders which DaimlerChrysler had announced last week. He made the offer publicly this afternoon and backed it up with a $100 million consideration escrow.

Chrysler defeated Kerkorian's takeover attempt in '95; it'll be interesting to see how Daimler reacts.

posted by Jar(egg)head at 15:14

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