Hyundai officially denies interest in Chrysler LLC

Jeremy Korzeniewski — Tue, 11 Nov 2008 09:00:00 EST

Filed under: Chrysler, Hyundai, Earnings/Financials

Despite Reuters reports of Hyundai's interest in Chrysler and specifically the Jeep brand, Hyundai has gone on record denying it. We've grown accustomed to automakers giving the arbitrary "no comment" response when the rumormill swirls with corporate takeover talk, but Hyundai has flat-out denied any interest at all. Almost in the same sentence, though, officials from the Korean automaker state that the company is interested in constructing new plants overseas, so we wonder if there's any fire behind the smokescreen, possibly outside the United States. Perhaps not.

There still remains the chance that Chrysler's automotive operations will be parted out and sold to the highest bidder, regardless of who that party may be. At the very least, Cerberus could decide to sell manufacturing plants to various automakers like Hyundai or the Nissan/Renault alliance, whose offer for 20% of the ailing American automaker may not seem so bad after all.

[Source: Trading Markets]

Hyundai officially denies interest in Chrysler LLC originally appeared on Autoblog on Tue, 11 Nov 2008 09:00:00 EST. Please see our terms for use of feeds.

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Hyundai: Newest Chrysler suitor?

Jeremy Korzeniewski — Fri, 07 Nov 2008 18:56:00 EST

Filed under: Government/Legal, Hirings/Firings/Layoffs, Chrysler, Hyundai, Jeep, Nissan, Earnings/Financials, Renault, Rumormill

On the same day that General Motors announced it would be discontinuing talks with Cerberus over a possible purchase of Chrysler, news hits by way of Reuters that a replacement suitor has sprung up. Wow, that didn't take long. The latest partner is none other than Hyundai, Korea's largest automaker. Not surprisingly, it's the Jeep brand that is again taking center stage according to these initial rumors. Everybody wants Jeep, it seems. If true, the possibility of breaking Chrysler's automotive operations into bits and pieces once again seems like a distinct possibility. What's more, after acknowledging that GM is abandoning talks of a "strategic acquisition," Chrysler's Bob Nardelli may now be back on the phone with Carlos Ghosn, head of the Nissan/Renault juggernaut, along with, presumably, anybody else who is willing to listen and has a pulse.

[Source: Reuters]

Hyundai: Newest Chrysler suitor? originally appeared on Autoblog on Fri, 07 Nov 2008 18:56:00 EST. Please see our terms for use of feeds.

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