DaimlerChrysler stocks skyrockets on talk of Chrysler sale
While we all sat and played the Hyundai vs. GM vs. ? game, the stock price shot through the roof. Apparently in the minds of shareholders, any buyer would be better than Daimler at this point. The stock closed up four-percent, trading at its highest price since 2001. At the closing bell, the final price was 56.08 Euro (about $73.74) per share. We first mentioned rumors of the sale on Valentine's Day and within a few days the story had exploded into unconfirmed, yet very probable, negotiations between GM and DaimlerChrysler, with Hyundai appearing out of nowhere and then quickly dropping out. While we figured the buyout was probably not going to happen, and that pickups were the basis of the talks between GM and Chrysler, the rumors persist.
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