Cerberus to buy Chrysler Group for $7.4BN
5/14/07, 07:32 AM
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Cerberus to buy Chrysler Group for $7.4BN
DaimlerChrysler has agreed to sell controlling interest of its Chrysler division to private equity firm Cerberus Capital Management for $7.4 billion, a statement from DaimlerChrysler Communications said Monday.
5/14/07, 07:46 AM
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Yup:
The unit was essentially put up for sale on February 14, when DaimlerChrysler Chairman and CEO Dieter Zetsche said Daimler would look at all options for the company, the same day he and Chrysler executives unveiled a turnaround plan that called for the automaker to close plants and cut 13,000 jobs, about 16 percent of its North American staff.
5/14/07, 11:57 PM
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It was never a marriage made in heaven. Although I think it's going to be painful for a lot of people I hope this will turn out well in the long run. But man did Daimler ever take a multi billion bath on this one!
5/16/07, 04:01 PM
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We still have a chance, the Middle-Eastern investors are looking to dump their share for a profit next year. We just have to raise about $1.5 billion.
5/16/07, 04:23 PM
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http://en.wikipedia.org/wiki/Cerberus Ck this Out!
Chrysler 666 Next Model????
Sounds Like a HELL of a Deal!
Kc
Chrysler 666 Next Model????
Sounds Like a HELL of a Deal!
Kc
5/16/07, 07:35 PM
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http://en.wikipedia.org/wiki/Cerberus Ck this Out!
Chrysler 666 Next Model????
Sounds Like a HELL of a Deal!
Kc
Chrysler 666 Next Model????
Sounds Like a HELL of a Deal!
Kc
5/16/07, 08:24 PM
#16
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Probably, but they deserve it, Diamler raped Chrysler (at the time they had a huge stock pile of cash), used the money they got from the deal to fund the SMART car program and give a bunch of german execs fat bonuses and now that the company has been ineptly run they are ready to let it crash and burn.
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