Late News.(Magna International Inc. and Onex Corp. plans to acquire Chrysler group)(General Motors suspends plant work at Ohio and Kansas)(Base pay to rise for top General Motors' executives)

Automotive News, April, 2007

Analysts: UAW approaches Magna

Magna International Inc. is a step closer to becoming a minority shareholder in the Chrysler group, an industry analyst says.

In a report issued Friday, Brett Hoselton, of KeyBanc Capital Markets Inc., said the UAW has "approached Magna with a framework concession package.'' That would pave the way for the sale of the Chrysler group to Magna and its financial partner, the Canadian private equity firm Onex Corp. The UAW favors Magna because the union remains opposed to the sale of Chrysler to a stand-alone private equity firm, Hoselton wrote.

- Bradford Wernle

GM suspends plant work

General Motors this week put future work at its Lordstown, Ohio, plant and Fairfax plant in Kansas City, Kan., on...

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