Magna, a manufacturer of technologically-advanced automotive systems, along with an as of yet unnamed private equity group have officially made an offer to DaimlerChrysler to purchase Chrysler.
It appears as though their tender of $4.6 to $4.7 billion would make Magna's stake in Chrysler be worth in the 20 to 25% range. According to sources, this bid is low and is unlikely to be accepted by the German-American car group.Time will tell.
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