Magna executives have visited all of Chrysler’s properties and have obtained access to Chrysler’s financial information, Brett Hoselton of KeyBanc Capital Markets in Cleveland, wrote in a note to investors yesterday.

He said Magna is exploring a combined bid with a private-equity group to reduce the amount debt that would be required in a Chrysler purchase. But he said he does not believe the two companies will merge.

Magna, of Aurora, Ont., Canada’s largest auto-parts maker, builds Mercedes, Jeep, and Chrysler models for DaimlerChrysler at a plant in Graz, Austria.

Magna declined to comment. “Anything to do with the Chrysler rumors we are not commenting on,” said Tracy Fuerst, a Magna spokesman.