Magna in the market for Land Rover and Volvo

According to UK magazine Autocar, Magna is looking into the purchase of Land Rover and Volvo. Magna, you'll remember, was in the market for Chrysler, and was for a time the frontrunner -- until all of a sudden it wasn't and the company went to Cerberus. While everyone knows that Jag and Land Rover could be sold, it was only last week that Ford said Volvo would not. It's unclear from Autocar's report if they are really just talking about Magna's interest, or if Magna has really engaged Ford about buying both companies. Magna makes parts for the Land Rover, and could also be interested in Rover and Volvo factories. We find it unlikely, though, that Ford would even consider a deal like this, which would leave it stuck trying to sell Jaguar as a standalone company. Without the sweetener of Land Rover, finding a buyer for a decent price would be more than merely challenging.

[Source: Autocar]

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