Nissan makes offer for 20% of Chrysler
A potential Chrysler/Nissan/Renault mashup makes much more sense than combining two American automakers whose products overlap and are both in bad shape right now. But sense doesn't mean much when companies are out to make money, and Cerberus may not be interested in a deal with Nissan that keeps it a player in the auto industry. The investment firm reportedly still favors a deal with GM that would essentially fill its pockets with cash and absolve it of any responsibility for the house that Walter P. built.
UPDATE: Some people have asked about what will happen to Daimler's remaining 19.9% of Chrysler LLC if Cerberus makes a deal with either GM or Nissan, and reports indicate that Chrysler is actively seeking to buy the rest of Daimler's stake before any deal is made. We're guessing the German automaker is just about ready to relinquish its rights to Chrysler and get as far as away from this cluster **** as possible.
[Source: The Detroit News]
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