BMP (performance BMW parts) has a series of very nice tools for doing bushings, ball joints, etc. They aren't cheap (up to $250 per tool), but they do work. Also, BMW has a "rental" program (which I think is based on an agreed buy back price when you are done using it...)
I haven't seen that SnapOn has a specific tool (I am sure they have ball joint tools, just not specific to MB or euro cars).
HTH
-David
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