General Motors will not bid for Chrysler - paper

Newswire

LONDON, March 27 (Reuters) - General Motors Corp. will not make a first-round bid for DaimlerChrysler AG's Chrysler unit, leaving just private equity firms and an auto parts supplier in the running, the Times reported on Wednesday. Unnamed sources close to the talks were quoted in the newspaper as saying GM decided against making the bid because the company felt it had no need for the extra capacity. Bid proposals were due to be submitted to U.S. investment bank JPMorgan Chase, which is ...

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