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

04-06-2007 06:39 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: i1connect

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.***

About i1connect:
I1 Connect (www.i1connect.com) is the new online leader in global public relations and advertising. With a diversified set of offerings ranging from Public Relations, Press Releases Distribution, Advertising, Marketing, Website Development, to Investor Relations services, i1connect.com has positioned itself for a long term growth utilizing the latest in telecommunications technology.

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the Company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the Company's periodic filings with the Securities and Exchange Commission.

For Interviews and Media Inquiries Contact
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(561) 515-6177

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