Chrysler sold to Cerberus for $7.4B

[Tom]

Three months to the day after DaimlerChrysler (DCX, news, msgs)announced that "all options" were on the table for its struggling U.S. Chrysler unit, private-equity firm Cerberus Capital Management said it would buy an 80.1% stake in Chrysler for $7.41 billion.

http://articles.moneycentral.msn.com/Investing/Dispatch/Chryslersale.aspx

 

[Kirby]

Daimler Benz sure botched this aquisition. Prior to Daimler, Chrysler was profitable. And who remembers this press release by DC:

" Two of the world's most profitable car manufacturers, Daimler-Benz AG, and Chrysler Corporation, have agreed to combine their businesses in a merger of equals."

"We will be able to exploit new markets, and we will improve
return and value for our shareholders. This is a historic merger that will
change the face of the automotive industry."

 

[Average Jae]

not all marriages have happy endings apparently.

Kirby, they didnt' exactly say that the historic merger was going to change the face of auto industry for better tho right?

 

[deutsch100]

I am SO happy that Daimler is getting rid of Chrysler (at least 80%). There was a time not too long ago, that Mercedes was A LOT better than BMW in terms of quality, reliability and resale value (but of course BMW drove better).

I'm really hoping that Mercedes can return to it's glory days as the Premier German Automaker

Does anyone know if Mercedes will now be manufactured again by Damiler-Benz, or will it stay DaimlerChrysler, since there is still a 20% ownership?

 

[Kirby]

Does anyone know if Mercedes will now be manufactured again by Damiler-Benz, or will it stay DaimlerChrysler, since there is still a 20% ownership?

Today's Wall Street Journal says that the name will be simply Daimler, pending board approval.