Reports GM Could Stay Out of Early Bidding for Chrysler

According to reports from Reuters, General Motors (NYSE: GM) is not likely to make a first-round bid for DaimlerChrysler's (NYSE: DCX) Chrysler unit. The reports said GM is more likely to watch from the sidelines and may consider buying various Chrysler assets that buyout firms do not want. With GM staying out of early bidding, this would leave auto-parts supplier Magna Intl. (NYSE: MGA) and various private equity firms as the bidders when proposals are due Friday.