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G.M. and Chrysler Explore Merger

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  • G.M. and Chrysler Explore Merger

    New York Times
    By BILL VLASIC and ANDREW ROSS SORKIN
    Published: October 10, 2008

    The talks between G.M. and Cerberus Capital Management, the private equity firm that owns Chrysler, began more than a month ago, and the negotiations are not certain to produce a deal. Two people close to the process said the chances of a merger were “50-50” as of Friday and would most likely still take weeks to work out.

    At the same time, Cerberus is continuing to hold talks with other automakers including Nissan and Renault, said people familiar with the discussions. It is unclear at what stage those discussions have reached.

    While G.M. and Chrysler may be hamstrung by labor contracts from cutting jobs, the two companies could combine dealers, product lines and advanced vehicle technology.

  • #2
    Re: G.M. and Chrysler Explore Merger

    and they will launch together a new revolutionary car marketed in US under the name Volga

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    • #3
      Re: G.M. and Chrysler Explore Merger

      Originally posted by $#* View Post
      and they will launch together a new revolutionary car marketed in US under the name Volga
      Or maybe the VegaRam?

      Remember the good ol' days when the private equity boyz bought companies, stripped the assets, loaded them with debt, IPO'd the carcass the following week, and then ordered another Bentley?

      Now they are reduced to M&A efforts with a neg equity bankrupt? Wow. Things down there really are tough.

      So what's the angle? Public loan guarantees? The government takes over retiree health care obligations [and the Dems use them as the guinea pigs for the new national system]? The taxpayer is clearly going to be set up for another bad deal if this goes ahead...:rolleyes:

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