DaimlerChrysler Talk from Blackstone, Imperato, Centerbridge, and Magna International Drives Sector Higher

New York, NY – (i1connect Newswire) April 5, 2007 – As rumors swirl regarding a potential buyout, Daimler Chrysler Shares have hit new 52 week highs over the past week and has driven a resurgence in an otherwise slumping auto industry.
Morgan Stanley raised its price target from $82 to $100 (USD) as it argued that it was appropriate to start valuing Daimler in a post-Chrysler world.

"We believe the likelihood of a Chrysler sales is higher than the market anticipates," said Adam Jonas, analyst. "We cannot envisage a viable future for the DaimlerChrysler Group (in its current form) on a keep Chrysler basis."
JPMorgan Chase, Daimler's adviser, has asked for initial offers to be submitted. To date Magna International, Blackstone Group, and Centerbridge Capital Partners have submitted bids.

Yesterday, DaimlerChrysler Chairman and CEO Dieter Zetsche announced that the company is currently in negotiations for the sale of its struggling US Auto unit that it acquired just 9 years ago.

An expected bid, as reported by the Detroit Free Press, is expected to be made by a private equity consortium represented by 2008 Presidential Candidate and international businessman Daniel Imperato.

The Imperato bid has been reported to include making Chrysler an Employee Owned Company (EOC) and would protect union jobs.
The popular online magazine Hedgefolio as well as Bloomberg News Service have all reported on a proposed United Auto Worker buyout of Chrysler.
To date the United Auto Workers have not issued an official statement on a potential Chrysler buyout.

*** This release has been created by i1connect, an independent news agency.***

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