Cars
As well as reporting its gloomy financial results for the third quarter of 2008, General Motors today also announced that its ending at talks with Cerberus Capital Management LP for the possible acquisition of the Chrysler Group. While the American automaker did not refer specifically to Chrysler LLC, it's no secret that the two companies had been in talks for quite a while now. And while this decision may be all for the better for GM as it allows the company's leadership to focus on its own problems, we can't help but wonder where this leaves Chrysler...
- Daimler Stops Talks With Cerberus On 19.9% Chrysler Stake
*Update: Cerberus Statement Added After the Jump Divorces always seem to end in the most bitter ways. Mercedes-Benz's parent company Daimler issued an edgy statement today in concern of the negotiations with private equity firm Cerberus for the sale...
- Rumor Xlvii: Cerberus May Sell Jeep Back To Renault, Chrysler To Gm
Ford's selling its Mazda stakes; GM and Chrysler are in merger talks and now, the latest rumor to emerge is that Chrysler LLC's owner, Cerberus is thinking of dismantling the company and selling its assets to various companies/automakers. We're...
- Chrysler In Preliminary Merger Talks With Gm
According to separate reports in The New York Times and The Wall Street Journal, two of the most iconic and troubled.... names in the American industry, General Motors and Chrysler LLC, have been in preliminary talks the past month or so concerning a...
- Chrysler Llc To Completely Shut Down For Two Weeks In July!
We can’t say that we weren’t expecting surprise moves from Chrysler LLC’s new owner Cerberus Capital Management LP, but to shut down the entire company for two weeks in July during the period when it usually closes only its assembly...
- Breaking News Whoa Dude! General Motors And Chrysler Talking About A Merger
You know the financial crisis (you tired of that phrase, too?) is really stinging when sudden merger talks pop up. No, it's not BMW and Mercedes-Benz or General Motors and Ford Motor Company: it's GM and the privately held Chrysler LLC. Preliminary...
Cars
GM Terminates Merger Talks with Chrysler LLC
As well as reporting its gloomy financial results for the third quarter of 2008, General Motors today also announced that its ending at talks with Cerberus Capital Management LP for the possible acquisition of the Chrysler Group. While the American automaker did not refer specifically to Chrysler LLC, it's no secret that the two companies had been in talks for quite a while now. And while this decision may be all for the better for GM as it allows the company's leadership to focus on its own problems, we can't help but wonder where this leaves Chrysler...GM's Official Statement:
"GM has recently explored the possibility of a strategic acquisition that it believed would generate significant cost reduction synergies and substantially strengthen GM's financial position in the medium and long term, while being neutral or modestly positive to cash flow even in the near term."
"While the acquisition could potentially have provided significant benefits, the company has concluded that it is more important at the present time to focus on its immediate liquidity challenges and, accordingly, considerations of such a transaction as a near-term priority have been set aside."
- Daimler Stops Talks With Cerberus On 19.9% Chrysler Stake
*Update: Cerberus Statement Added After the Jump Divorces always seem to end in the most bitter ways. Mercedes-Benz's parent company Daimler issued an edgy statement today in concern of the negotiations with private equity firm Cerberus for the sale...
- Rumor Xlvii: Cerberus May Sell Jeep Back To Renault, Chrysler To Gm
Ford's selling its Mazda stakes; GM and Chrysler are in merger talks and now, the latest rumor to emerge is that Chrysler LLC's owner, Cerberus is thinking of dismantling the company and selling its assets to various companies/automakers. We're...
- Chrysler In Preliminary Merger Talks With Gm
According to separate reports in The New York Times and The Wall Street Journal, two of the most iconic and troubled.... names in the American industry, General Motors and Chrysler LLC, have been in preliminary talks the past month or so concerning a...
- Chrysler Llc To Completely Shut Down For Two Weeks In July!
We can’t say that we weren’t expecting surprise moves from Chrysler LLC’s new owner Cerberus Capital Management LP, but to shut down the entire company for two weeks in July during the period when it usually closes only its assembly...
- Breaking News Whoa Dude! General Motors And Chrysler Talking About A Merger
You know the financial crisis (you tired of that phrase, too?) is really stinging when sudden merger talks pop up. No, it's not BMW and Mercedes-Benz or General Motors and Ford Motor Company: it's GM and the privately held Chrysler LLC. Preliminary...