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Chrylser acquired by Cerberus

Rover
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Posted on: Wed, 11/26/2008 - 3:45am

Quote:

DaimlerChrysler AG decided the future of Chrysler, by selling 80% of the stocks to Cerberus Capital Management, for a sum close to $7.4 billion. A bad deal if you are comparing it to the $36 billion spent to merge the two companies back in 1998. DaimlerChrysler AG will now be renamed to Daimler AG, and it will keep 20% of Chrysler, plus it will give them a $400 million loan....