Kerkorian indicates no settlement to come

Dec 03, 2003 0 Replies

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"WILMINGTON, Del. -- If there was still any chance of an out-of-court settlement in Kirk Kerkorian's billion-dollar shareholder lawsuit against DaimlerChrysler AG, it may have wilted under the taxing cross-examination he received here Tuesday.



During a quick afternoon break from hours of questioning that clearly rattled him, the billionaire paused for a second in the courthouse men's room to wash his hands. When his own lead attorney entered the room and stood at the sink next to him, Kerkorian snapped at him.



"Any chance of talk is out the window, with that deceit and bull---t they're pulling," Kerkorian said angrily. "



...



"On another issue, Kerkorian accused the (DCX's) attorney of "questioning my style of management."



"Are you trying to say what I should or shouldn't be doing?" barked Kerkorian, who once owned 89 million shares of Chrysler stock. "Am I getting a lesson from you?" "


....



"He alleges that Daimler-Benz knew all along that it would take over Chrysler and replace its management team rather than "merging" as an equal with the Auburn Hills, Mich., company. He alleges that the Stuttgart-based management, led by Chairman Juergen Schrempp, deceived U.S. investors into accepting the transaction as a merger to avoid paying a higher-per-share price.



In a statement issued Tuesday evening, Christensen said, "Daimler's tactic appears to be to talk about anything other than this clearly indisputable fact."



Kerkorian was at the time of the merger -- and still is -- the largest individual shareholder in the company. His privately-owned Tracinda Corp. still owns 1 million shares. "


****** It just keeps getting better.


--Geoff


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