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 co
The latest rumors regarding Cerberus-owned Chrysler and its possible sale point to the breakup of Chrysler's assets, and in particular its brands. General Motors may be interested in bits and pieces of its cross-town rival, but perhaps not the entire automaker. Jeep is considered Chrysler's most valuable asset and was purchased by the automaker from Renault in the '80s, around the same time that AMC cease
Despite the fact that Chrysler shares are no longer sold on the stock market, rumors regarding the company's financial standing continue to haunt the number three domestic auto manufacturer in America. Last week, rumors regarding the negative cash flow were so rampant, a company spokesperson went out of his way to deny that the automaker was headed towards bankruptcy. Now, despite c
Chrysler's spinoff from its German parent and the subsequent sale to Cerberus Capital Management was announced back in May, but the deal was only given final approval from the European Commission yesterday. Despite the latest episode, we're unlikely to see things finalized until at least the third quarter because the deal now requires approval from U.S. authorities.
Last week we told you that DaimlerChrysler's Rüdiger Grube was heading to New York to visit with potential suitors for the Chrysler Group. And it appears he was a man on a mission. It seems that a close source has told news outlets that a sale could be wrapped up by as early as May. Although talks are ongoing and nothing is definite, it looks like at least one of the bidders has met the company's expectations in principle. Those bidders included Blackstone Group, Centerbridge Capital Partne
Is DaimlerChrysler deliberately snubbing Kirk Kerkorian? Word has it the company is sending one of its top executives to New York to meet with potential buyers, but Kirk isn't on the list. Kerkorian, as you may know, has already made a $4.5 billion offer for Chrysler.
DaimlerChrysler CEO Dieter Zetsche has told a German newspaper that DCX is not committed to separating from the Chrysler Group and may end up staying as a single company when all is said and done. He also stated the Chrysler is not on the auction block to all potential bidders. Rather, Daimler is willing to share information with potential buyers at their own discretion.