Cerberus to buy Chrysler Group for $7.4BN

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May 14, 2007 | 07:32 AM

Louie

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From: Holland

Cerberus to buy Chrysler Group for $7.4BN

Quote:

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.

http://edition.cnn.com/2007/BUSINESS...ale/index.html

May 14, 2007 | 07:37 AM

97svtgoin05gt

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From: New Jersey

Get ready for the layoffs. It was bound to happen, they just waited way too long.

May 14, 2007 | 07:46 AM

Louie

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From: Holland

Yup:

Quote:

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.

May 14, 2007 | 12:15 PM

Moosetang

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See kids, this is what happens when you rush into marriage: a few years later you get the ugly divorce.

May 14, 2007 | 12:19 PM

Zastava_101

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From: Wisconsin / Serbia

May 14, 2007 | 03:47 PM

Knight

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From: Volo, IL

so what does Chrysler group contain? Chrysler, Dodge, Jeep?

May 14, 2007 | 03:56 PM

neil07gt

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Quote:

Originally Posted by Knight

so what does Chrysler group contain? Chrysler, Dodge, Jeep?

Chrysler, Jeep, Dodge, Mopar and the Hemi name.

May 14, 2007 | 04:09 PM

future9er24

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Heard this on the radio this morning

May 14, 2007 | 11:57 PM

scottie1113

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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!

May 15, 2007 | 09:52 PM

#10

hi5.0

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What happened to the TMS group buy for Chrysler? =)

May 16, 2007 | 07:40 AM

#11

Knight

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From: Volo, IL

only TMS group buy i heard of was for Aston Martin.. We raised like $5 for that...it wasn't enough as we were outbid by about 950 million....

May 16, 2007 | 04:01 PM

#12

Moosetang

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Quote:

Originally Posted by Knight

only TMS group buy i heard of was for Aston Martin.. We raised like $5 for that...it wasn't enough as we were outbid by about 950 million....

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.

May 16, 2007 | 04:23 PM

#13

05stangkc

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From: Visalia Ca.

http://en.wikipedia.org/wiki/Cerberus Ck this Out!

Chrysler 666 Next Model????

Sounds Like a HELL of a Deal!

Kc

May 16, 2007 | 04:42 PM

#14

Vermillion06

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From: NV

Why not? They've already had a Dodge Demon and Ram!

May 16, 2007 | 07:35 PM

#15

scottie1113

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Quote:

Originally Posted by 05stangkc

http://en.wikipedia.org/wiki/Cerberus Ck this Out!

Chrysler 666 Next Model????

Sounds Like a HELL of a Deal!

Kc

Ah, you caught that too.

May 16, 2007 | 08:24 PM

#16

bob

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From: Bristol, TN

Quote:

Originally Posted by scottie1113

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.