Key Banc says Magna weighing Chrysler bid

Newswire

DETROIT, Feb 26 (Reuters) - Canadian auto parts supplier Magna International Inc. has been "seriously considering the potential purchase" of Chrysler Group, an analyst for KeyBanc Capital Markets said, citing unnamed sources. In a note for clients issued on Monday, KeyBanc analyst Brett Hoselton said that he did not believe the two companies would ultimately merge despite the "substantial due diligence work on Chrysler" by Magna. "We believe the merger strategy is risky and will confront ...

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