Kerkorian wasn’t duped, panel rules
From Times Staff and Wire Reports
Billionaire investor Kirk Kerkorian wasn’t misled about the $36-billion deal that created automaker DaimlerChrysler in 1998, an appeals court ruled.
The U.S. 3rd Circuit Court of Appeals in Philadelphia upheld a lower court’s 2005 finding that Daimler-Benz didn’t disguise the Chrysler takeover as a “merger of equals.”
Kerkorian, once Chrysler’s largest shareholder, sought as much as $3 billion in a lawsuit over the deal.
