Automotive News is reporting today that Magna International Inc. an wholesale automotive supplier is performing "substantial due diligence work on Chrysler and is seriously considering potential purchase of the company,"
A report to investors by KeyBanc Capital Securities analyst Brett Hoselton, indicated that Magna was eying Chrysler as an opportunity to become the low-cost provider of virtually everything in the automotive supply chain.
If Magna does absorb Chrysler the net result would probably be a elimination of most retail portions of Chrysler vehicles and dealerships, and a focus of manufacture and supply to other automotive companies.