Ford sole preferred bidder for Daewoo Motor

Ford has trumped rival bidders DaimlerChrysler/Hyundai Motors and GM/Fiat with a W7.7 trillion offer for Daewoo Motor, Korea''s second biggest auto maker.

Ford Motor Co has taken line honours in the battle for debt-laden Daewoo Motor with a W7.7 trillion $6.9 billion bid. Financial Supervisory Commission Chairman Lee Yong Keun named Ford the sole preferred bidder from a field of three. The decision came a day earlier than scheduled and this, coupled with the fact Lee declined to announce a second preferred bidder, suggests the US auto maker's offer was considerably higher than either of those tabled by the Daimler...

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