Kerkorian keeps trying… this time is Chrysler again

One thing that can’t be denied is Kerkorian’s persistence to get part of the action in the US automotive industry.

First, his attempt to take Chrysler private in the early nineties followed by the 2003-2005 drama of a Kerkorian-initiated federal lawsuit in which he charged that he had been deceived by DaimlerChrysler management, winning his support for the $36 billion deal in 1998 by portraying it as a “merger of equals” when, in fact, it was a takeover of Chrysler by Daimler-Benz.

More recently, when he then tried to broker an alliance between General Motors, Renault of France and Nissan of Japan, and replace Rick Wagoner by Carlos Ghosn.

Now his investment arm, Tracinda Corporation, made a $4.5 billion cash offer yesterday for the Chrysler Group.

The offer looks to obtain winning the exclusive right to negotiate with DaimlerChrysler and a deal with the United Automobile Workers union that could mean worker concessions.

The U.A.W. did not comment on the Tracinda bid, but its president, Ron Gettelfinger, previously said that he preferred to see the company remain part of Chrysler rather than be sold to an investor. Gettelfinger sits on the DaimlerChrysler supervisory board, which will ultimately decide Chrysler’s fate.