GM and Chrysler Merge ?
10-11-2008, 03:36 AM
#1
Registered User
Thread Starter
Join Date: Apr 2008
Location: Waconia, MN
Posts: 544
Likes: 0
Received 0 Likes
on
0 Posts
GM and Chrysler Merge ?
DETROIT - General Motors Corp. and Chrysler LLC have held preliminary talks about a merger or an acquisition of Chrysler by GM, according to published reports late Friday.
The Wall Street Journal, citing people it described as familiar with the discussions, said Cerberus Capital Management, the private equity firm that owns 80.1 percent of Chrysler and 51 percent of GMAC Financial Services, proposed trading Chrysler's automotive operations to GM. The Journal said Cerberus would receive GM's remaining 49 percent stake in GMAC.
The New York Times, also citing people familiar with the talks, said the automakers were discussing a merger. The Times did not mention GMAC, a traditional auto lender hit hard by the housing market downturn.
Story continues below ↓advertisement
The talks have stalled because of the recent turmoil in the financial markets, according to the Journal. Its sources said negotiations could resume if markets stabilize because both GM and Cerberus want to quickly divest the assets under discussion.
The negotiations between 100-year-old GM and 83-year-old Chrysler began more than a month ago, according to the Times. Its sources said the chances of a merger were "50-50" as of Friday and likely would take weeks to complete.
Both newspapers posted their stories on their Web sites late Friday.
"Without referencing this specific rumor, as we've often said, GM officials routinely discuss issues of mutual interest with other automakers," GM spokesman Tony Cervone said.
Chrysler spokeswoman Shawn Morgan declined comment.
i dont think it is going to happen. but when it seems everything nowdays is going to h*ll in a hand basket who knows.
The Wall Street Journal, citing people it described as familiar with the discussions, said Cerberus Capital Management, the private equity firm that owns 80.1 percent of Chrysler and 51 percent of GMAC Financial Services, proposed trading Chrysler's automotive operations to GM. The Journal said Cerberus would receive GM's remaining 49 percent stake in GMAC.
The New York Times, also citing people familiar with the talks, said the automakers were discussing a merger. The Times did not mention GMAC, a traditional auto lender hit hard by the housing market downturn.
Story continues below ↓advertisement
The talks have stalled because of the recent turmoil in the financial markets, according to the Journal. Its sources said negotiations could resume if markets stabilize because both GM and Cerberus want to quickly divest the assets under discussion.
The negotiations between 100-year-old GM and 83-year-old Chrysler began more than a month ago, according to the Times. Its sources said the chances of a merger were "50-50" as of Friday and likely would take weeks to complete.
Both newspapers posted their stories on their Web sites late Friday.
"Without referencing this specific rumor, as we've often said, GM officials routinely discuss issues of mutual interest with other automakers," GM spokesman Tony Cervone said.
Chrysler spokeswoman Shawn Morgan declined comment.
i dont think it is going to happen. but when it seems everything nowdays is going to h*ll in a hand basket who knows.
10-11-2008, 06:02 AM
#2
Registered User
Join Date: Jun 2004
Location: SunnyVale Trailer Park
Posts: 1,668
Likes: 0
Received 0 Likes
on
0 Posts
10-11-2008, 12:33 PM
#4
Registered User
Join Date: Aug 2006
Location: Hutto, Texas
Posts: 194
Likes: 0
Received 0 Likes
on
0 Posts
10-11-2008, 03:07 PM
#5
Chapter President
Join Date: Mar 2006
Location: Near Mt. Pleasant, Tennessee
Posts: 1,327
Likes: 0
Received 0 Likes
on
0 Posts
well, gm's stock is at least above $3 a share now......thought about buying into it several times.....but no. It was in the pooper on friday, down to around $2 and some change. Guess if I bought in then I could have doubled my money and sold the stock monday!
I think everybody is sitting around watching to see what will happen. Me, I'm buying penny stocks!!
Wonder what would happen if they did merge?? Duramax all around?? EEeeewwwww.........
Why don't they merge with Ford, then they can go down the toilet together!
I think everybody is sitting around watching to see what will happen. Me, I'm buying penny stocks!!
Wonder what would happen if they did merge?? Duramax all around?? EEeeewwwww.........
Why don't they merge with Ford, then they can go down the toilet together!
10-11-2008, 05:20 PM
#6
Banned
Join Date: Jul 2006
Location: CT
Posts: 452
Likes: 0
Received 0 Likes
on
0 Posts
cummins in a chevy with an allison? g'night ford. 
no but in all seriousness, theres probbaly only a .01% chance it will happen. I just dont see it...media is blowing things out of proportion
no but in all seriousness, theres probbaly only a .01% chance it will happen. I just dont see it...media is blowing things out of proportion
Trending Topics
Thread
Thread Starter
Forum
Replies
Last Post
Melungeon1
1st Gen. Ram - All Topics
21
07-21-2010 08:39 PM
streetsmoker
Suggestions, Comments and Site Questions
5
04-01-2006 04:06 PM