Cerberus attempting to buy remaining stake in Chrysler from Daimler
One aspect of the possible GM/Chrysler merger often overlooked is that Daimler didn't completely divest itself of its Chrysler ownership back in early 2007, and the German automaker's 19.9% stake could get in the way of any deal. Daimler has been clear that it is disinterested in becoming part of some Detroit super conglomerate, and Automotive News is reporting that Cerberus is close to a deal to buy up the remaining 19.9% stake. Also part of the rumor mill is possible involvement with Renault/Nissan, which has been actively working with Chrysler on collaboration projects in the past year.According to CNBC, the merger of GM and Chrysler could be complete within the next two weeks, but with neither of the two parties talking, it's all speculation at this point. Recent reports from the Wall St. Journal and CNN say that talks are rapidly accelerating, so there could be more to Chrysler/GM talks than we'd originally thought. Then again, the Internets have been wrong before.
[Source: Automotive News subs req'd]
Reader Comments (Page 1 of 2)
Jason 8:30PM (10/17/2008)
"Then again, the Internets have been wrong before"
There is only one internet on earth.
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Michael 8:35PM (10/17/2008)
That's not entirely accurate.
The Luigiian 9:21PM (10/17/2008)
4Chan Internet--The bad side of the intarwebs.
E-mail Internet--The side most people see.
Intermediate Internet--the middle ground between 4Chan and E-mail.
Autoblog lies toward the E-mail side of the tracks. Also on this side lie the people whose lives have not been taken by the Internet. Beyond those tracks lie the furries, the Goreans, the Second Lifers, the Goons, the conspiracy bloggers, TexasDarlin, Encyclopedia Dramatica, FurAffinity, 12Chan, 7Chan, Rule 34...
So Jason, let me ask you... Still think there's only one Internet? Your life could depend on it.
Also: There could be centipedes in your vagina. It's more likely than you may think.
Artie Lange 9:57PM (10/17/2008)
Luigiian, you forgot teh Goatse. There's always teh Goatse.
Michael 8:36PM (10/17/2008)
That picture should be captioned: "Do not pass go. Do not collect $200."
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Noidor 8:37PM (10/17/2008)
They'll combine two operations, and will become like PSA group of Peugeot and Citroen. Joint income and lower long-term capacity.
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Torrent 9:54PM (10/17/2008)
I don't wanna say it, but that's sad.
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WhiteV 10:53PM (10/17/2008)
So what ever happened to the
"AUTO BLOG PODCAST"?!?!
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SeattleJeremy 11:42PM (10/17/2008)
I miss the podcasts too, but if you listen to the most recent one, they said they needed a break from it for a while due to slow news season.
Well, The new season has picked up unexpectedly. So I think it's time to bring it back.
ajmalzx 11:38PM (10/17/2008)
This merger is just as crazy as a tiger riding a bicycle.
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Jrejre 11:53PM (10/17/2008)
Despite my best efforts on google image search, I am unable to prove you wrong so I'll have to take your word for it.
Matt 3:44AM (10/18/2008)
More like as crazy as a tiger riding a horse...
http://www.youtube.com/watch?v=Adt6wCSTGbg
BTW, I saw that on CNBC too... Go figure.
geo.stewart 6:45AM (10/18/2008)
for jrejre
http://www.quickrelease.tv/pix/lionbike2.jpg
Reader 8:24AM (10/18/2008)
Matt, that actually made me extremely sad after I got over that it was kind of cool.
Sean 12:24AM (10/18/2008)
"You must be the Monopoly guy!"
Honestly, I could never take that guy seriously.
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Bob 5:11AM (10/18/2008)
They'll combine two operations, and will become like PSA group of Peugeot and Citroen. Joint income and lower long-term capacity.
Greetz Bob - http://www.torrentbug.com
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Mobius_1 7:26AM (10/18/2008)
"Detroit superconglomerate"
The numbers would be huge (in the red, most likely)
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Jeff 7:31AM (10/18/2008)
I think GM is underestimating the degree to which loyal customers of Chrysler's will abandon the brand if GM takes it over (and then apart). Being no fan of GM products (I've owned several, none of which has been a good experience) I can guarantee that this "merger" will simply mean that I will eventually be dumping my Chrysler products for one of the other surviving companies, even if that means going offshore.
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Milos 8:01AM (10/18/2008)
i'm still not sure that this should be called a merger. It should simply be viewed as GM buying Chrysler especially since gm wouldn't keep Chrysler and Dodge brands (these two brands don't have a single large volume product that wouldn't be a direct competitor to some Buick, Chevy, Caddy model) and probably only invest into Jeep
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ORM 8:36PM (10/21/2008)
From the products point of view ...This whole thing seems dead wrong... if GM just would invest in Jeep, why are they desperately trying to loose Hummer?
The first step to get out of the hole is stop digging, which I thought they were doing with some of the new cool products, while Chrysler is still selling mostly crappy, inefficient cars... I own both brands and I can't wait to say good bye to the 15 mpg, rattly, 4 cyl turbo sebring..