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Article: Iacocca Insists Buyout Offer Is No Grab for Management
- Article from:
- THE JOURNAL RECORD
- Article date:
- April 13, 1995
- Author:
CopyrightCopyright 1995 The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK _ He just couldn't stay away.
Little more than two years after retiring as Chrysler Corp.'s
chairman, Lee Iacocca _ the man whose name is synonymous with the
born-again car company _ is making a comeback of sorts, joining a
bid to buy the automaker.
Iacocca, whose flamboyant style and blunt words have made him
a headline-maker for years, insists he's not trying to step back
into the executive's chair at Chrysler.
"I have no interest in actively participating in management,"
he said in a statement Wednesday revealing the $22.8 billion cash
takeover offer he made alongside Chrysler's largest shareholder,
Kirk Kerkorian.
"I view this transaction as an opportunity to continue my ...