Kirk Kerkorian has sought to reassure Chrysler's workforce that his $4.5bn bid for the Detroit-based carmaker would involve a genuine partnership and would transform the way risks and rewards are shared in a large company.
Pointing to the "brutal" economics of the north American automotive industry, Tracinda, the veteran corporate raider's holding company, said on Friday evening that "we believe the only realistic plan for Chrysler is one in which all the parties share equitably - with no one group, including ourselves, trying to gain an unfair advantage over the others".
