Magna, Chrysler discuss buyout.(News)(Magna International Inc.)(Chrysler Corp.)

Automotive News, April, 2007 by Nussel, Philip

Byline: Philip Nussel

The race for the Chrysler group heats up this week as executives from Magna International Inc. and a potential financial partner visit the automaker's headquarters for a private presentation by Chrysler executives.

The meeting, scheduled for today, April 16, will include top officials from Magna and Onex Corp., a Canadian investment firm with numerous industrial holdings in North America, according to two sources familiar with the bidding process.

Magna Chairman Frank Stronach and Onex CEO Gerald Schwartz are expected to attend, one source said.

Chrysler spokeswoman Shawn Morgan declined to comment on the negotiations.

It was unclear Friday, April 13, if Onex has formally joined Magna's bid....

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