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Kerkorian Sues DaimlerChrysler for $9 Billion, Alleges 'Merger of Equals' Deliberately Deceived Investors -- Complete Report on TheCarConnection.com

27 November 2000

Kerkorian Sues DaimlerChrysler for $9 Billion, Alleges 'Merger of Equals' Deliberately Deceived Investors -- Complete Report on TheCarConnection.com

    DETROIT, Nov. 27 DaimlerChrysler AG Chairman's
unexpectedly candid confession that his company was never a "merger of equals"
has landed the world's fifth-largest automaker in court.  It faces a
$9 billion suit filed by 83-year-old Kirk Kerkorian, DC's third-largest
shareholder, reports the Internet newsmagazine, TheCarConnection.com.
    The suit accuses Schrempp of "knowingly deceiving" investors so they would
approve the trans-Atlantic tie-up.  Ironically, Kerkorian's own, hostile
takeover bid in 1995 was the reason why Daimler-Benz and Chrysler Corp. began
talking merger in the first place.
    TheCarConnection.com has the complete story on the Kerkorian lawsuit --
and in-depth coverage of DaimlerChrysler's continuing problems.
    You'll find buying, selling, and leasing tips; and a wide range of news,
views, and reviews from the automotive world's top columnists and
correspondents.  Whatever you're interested in, we've got everything
automotive on the Web's Automotive Authority, http://www.TheCarConnection.com .
    Web users also can access The Car Connection by going to the PR Newswire
site http://www.prnewswire.com .