Blackstone Circles Chrysler

06 March 2007

DETROIT: With the unerring instinct of a jackal circling its limping prey, The Blackstone Group is said to be scrutinizing the accounts of DaimlerChrysler's ailing US unit Chrysler.

The Times of London reports that Blackstone, the planet's largest buyout operator, headquartered in New York, is mulling an offer for Chrysler, whose brands include Jeep, Dodge and the eponymous Chrysler marque.

Blackstone's move runs in parallel with the automaker's ongoing talks with General Motors, while aptly-named hedge fund Cerberus is also believed to be running its slide-rule over Chrysler.

Word around MoTown is that Blackstone is currently up to its neck in confidential data related to Chrysler's assets, liabilities, development plans, sales predictions and - in particular - its eyewatering $18 billion (€13.75bn; £9.36bn) of healthcare liabilities.

None of the parties were prepared to comment on the situation.

Data sourced from The Times (UK); additional content by WARC staff