DaimlerChrysler to Be Selective in Sharing Chrysler Information

By Jeff Bennett

Feb. 23 (Bloomberg) -- DaimlerChrysler AG said it will be selective in sharing financial information with potential purchasers of its U.S. Chrysler unit.

The German automaker plans to vet candidates through investment bank JPMorgan Chase & Co. instead of giving out information to any interested buyer, Chrysler spokesman Jason Vines said late yesterday.

DaimlerChrysler Chief Executive Officer Dieter Zetsche said Feb. 14 all options are ``on the table'' when it comes to the future of Chrysler, which lost $1.5 billion last year. Zetsche said he wouldn't rule out a sale of the No. 3 U.S automaker, which he led for five years through mid-2005.

General Motors Corp., the world's largest carmaker, and DaimlerChrysler are discussing several options, including joint development of vehicles and an outright purchase of Chrysler, people with knowledge of the talks said last week.

News of those discussions and other scenarios prompted Chrysler CEO Tom LaSorda to urge employees to focus on the automaker's restructuring instead of speculation the company may be sold.

``We have an obligation to each other, to our shareholders, to our dealers and to our customers to make this plan successful,'' LaSorda said in an e-mail. ``Your support and best effort have never been more important.''

Chrysler, based in Auburn Hills, Michigan, last week announced plans to eliminate 13,000 workers and close a plant over the next two years to return to profitability by 2008.

DaimlerChrysler's strategy for dealing with prospective bidders was reported earlier by the Wall Street Journal.

U.S. shares of Stuttgart-based DaimlerChrysler fell 86 cents to $69.98 in New York Stock Exchange composite trading. The shares have risen 24 percent over the past 12 months.