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.

Detroit News Reports General Motors (GM) Still Has Bid on Table for DaimlerChrysler's (DCX) Chrysler Division

The Detroit News reports General Motors (NYSE: GM) still has a bid on the table for DaimlerChrysler's (NYSE: DCX) Chrysler division. The article states GM's bid has 3 components, but none of which include a cash payment (according to sources). The deal would include GM giving DCX a minority stake in GM with roughly less than 10% of GM stock, plus payoff $1 billion in Chrysler's health care costs then seek concessions for UAW workers.

The article continues by saying other potential suitors has stepped up, however, GM and Chrysler are still in talks and have met several times

Reports DaimlerChrysler AG Could Take GM Stake As Part of Chrysler Deal

According to reports from the Financial Times, DaimlerChrysler AG (NYSE: DCX) may take a minority stake in General Motors (NYSE: GM) as financial consideration for a deal to merge with the Chrysler unit.

GM In Talks To Purchase Chrysler Group - Report - DJ

GM (NYSE: GM) In Talks To Purchase Chrysler Group (NYSE: DCX) - Report - DJ

Rumors Kirk Kerkorian dumped the rest of his GM stock

Rumors Kirk Kerkorian dumped the rest of his GM (NYSE: GM) stock. More at 13D Tracker. Link

Kerkorian's Tracinda Confirms GM Stock Sale Rumor

As was rumored earlier, Kirk Kerkorian's Tracinda Corporation disclosed they cut their stake in General Motors (NYSE: GM) from 9.9% to 7.4%. More at 13DTracker

Is Kerkorian Selling GM?

CNBC's David Faber makes note that Tracinda Corp/Kirk Kerkorian had announced a cash tender offer to increase his stake in MGM (NYSE: MGM). However, Faber says the real question is "Is Kerkorian Selling General Motors (NYSE: GM) Stock?", noting the significant drop in share price over the past few days and the 45 day 'quiet period' window which recently expired after Jerome York resigned from the GM board. Kerkorian currentlty has a 10% stake in GM.