New York City-based private equity firm BLACKSTONE may bid for Chrysler Group according to reports.

Reuters said that the buyout firm has approached the automaker and been granted access to its books in preparation for a possible bid.

The report, citing an unnamed source, said that there is no guarantee that the private equity firm will make an offer for Chrysler.

At the same time, The Detroit News reported that representatives from Cerberus Capital Management, another buyout firm, had met executives from Chrysler on Monday, 5 March, to consider a possible bid.

General Motors CEO Rick Wagoner declined to comment on whether the world’s largest automaker was considering a bid for Chrysler. “There’s nothing we want to say about it,” Wagoner told reporters on the sidelines of the Geneva motor show on Tuesday.