Magna and Ripplewood to Bid for Chrysler?
In the final hours before potential buyers must submit bids to DaimlerChrysler (DCX) for its ailing Chrysler Group unit, private equity group Cerberus Capital Management has decided to go it alone, instead of bidding together with Canadian auto supplier Magna International (MGA), sources close to Cerberus and Magna say. Sources say the two sides couldn't come to terms on how they would structure a deal, and that Magna Chairman Frank Stronach wanted more control over a transaction than Cerberus would permit.
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