Kerkorian Seeks Vote On Chrysler Bid

Spurned by Chrysler Corp. in his attempt to take over the automaker, billionaire Kirk Kerkorian challenged the company Tuesday to let its shareholders vote on his offer.

“If the shareholders do not support the buyout, we would withdraw our offer,” Kerkorian said in a letter to Chrysler Chairman Robert J. Eaton, who wrote Kerkorian Monday to reject his bid.

As an alternative, he proposed that the company ask stockholders if they would prefer that the company increase its dividend payments to $5 a share from the present $1.60.

“The key decisions regarding the future of Chrysler are being made by a group of people who own less than 1 percent of the stock of the company,” Kerkorian’s letter said.