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aLiEn News & Reviews

Friday, April 08, 2005

Business Review ( Related to an Armenian) : Kerkorian loses a court case ( regarding Daimler-Chrysler merge)

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US-German carmaker DaimlerChrysler has won a court case which accused it of lying to shareholders during the 1998 merger which created the group.

Casino tycoon Kirk Kerkorian, at the time Chrysler's biggest shareholder, wanted $1.2bn (£640m) in compensation. He claimed that it was more of an 'overtake' than a merge, leading to many losses for shareholders.

News are here ( FT) and here ( BBC)

posted by Alan at 7:00 PM