Magna may get financial aid from Russian firm to buy Chrysler
The $1.54 billion could be used to help Magna put together the necessary funds to buy Chrysler, and it represents yet another reason many consider Magna to be a front-runner to own the automaker. The UAW prefers the Union-friendly supplier wins out over private equity groups like Cerberus and Blackstone, and Magna is also profitable, with record revenues in the first quarter of this year.
It seems like just yesterday when the words "Supplier" and "Bankruptcy" went hand in hand, and here we are half-way through 2007, and Magna International seems to be on the precipice of owning the automaker for which it supplies parts. Oh, how the tables have turned.
- Biggest automotive sales disappointments
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models