DaimlerChrysler exec to see bidders, but not Kerkorian

DaimlerChrysler executive Rudiger Grube is scheduled today to kick off meetings with bidders for the Chrysler group.

Automotive News / April 11, 2007 - 4:00 am

NEW YORK (Reuters) – DaimlerChrysler executive Rudiger Grube is scheduled to meet in New York this week with bidders for the Chrysler group, but it appears that billionaire Kirk Kerkorian's Tracinda Corp. isn't among those on the invitation list, the Wall Street Journal reported.

Tracinda, which announced a surprise $4.5 billion bid for Chrysler late last week, was working up to the last minute in hopes of being included in the scheduled round of meetings with Grube, a management-board member and head of strategy, the newspaper said.

However, a meeting between Grube and Tracinda is not scheduled, people familiar with the matter said in the newspaper.

Grube is scheduled today to kick off meetings with representatives from the tandem of Blackstone Group and Centerbridge Capital Partners LP; Cerberus Capital Management LP; and a partnership between Canadian auto parts supplier Magna International and private-equity firm Ripplewood Holdings, the newspaper said. All have shown interest in purchasing Chrysler.