Chrysler Sold to Cerberus
#1
Thread Starter
Join Date: Jul 2003
Location: michigan
Posts: 28,282
Likes: 0
Received 0 Likes
on
0 Posts
Chrysler Sold to Cerberus
he Wall Street Journal is reporting that the private equity firm Cerberus has won the bidding for Chrysler. DaimlerChrysler (NYSE: DCX), which will probably change its name, will hold a small stake in the new holding company. Cerberus bought the majority of GMAC from General Motors (NYSE: GM) last year.
Aside from what Cerberus pays for the U.S. car company, which may be very little, the key to the transaction will be that Daimler will move the $18 billion of Chrysler pension and benefits obligations off of its books.
according to the news, it is confirmed they are sold, but not 100% on the buyer.
Aside from what Cerberus pays for the U.S. car company, which may be very little, the key to the transaction will be that Daimler will move the $18 billion of Chrysler pension and benefits obligations off of its books.
according to the news, it is confirmed they are sold, but not 100% on the buyer.
#4
Apathy Kills
And everyone else I read listed Magna as the front runner... interesting.
__________________
:: :ToDspin: - supermod - but who gives a shit?
:: HAN Integra FAQ: If, by some miracle, yours hasn't been stolen... check it out!
:: HAN Integra FAQ: If, by some miracle, yours hasn't been stolen... check it out!
#5
Thread Starter
Join Date: Jul 2003
Location: michigan
Posts: 28,282
Likes: 0
Received 0 Likes
on
0 Posts
#6
Apathy Kills
Moved to News & Rumors.
__________________
:: :ToDspin: - supermod - but who gives a shit?
:: HAN Integra FAQ: If, by some miracle, yours hasn't been stolen... check it out!
:: HAN Integra FAQ: If, by some miracle, yours hasn't been stolen... check it out!
#8
Apathy Kills
As a Mopar guy, I hope the brand survives.
But I get the feeling that this is the end.
__________________
:: :ToDspin: - supermod - but who gives a shit?
:: HAN Integra FAQ: If, by some miracle, yours hasn't been stolen... check it out!
:: HAN Integra FAQ: If, by some miracle, yours hasn't been stolen... check it out!
#9
Apathy Kills
It's called driving traffic... h:
__________________
:: :ToDspin: - supermod - but who gives a shit?
:: HAN Integra FAQ: If, by some miracle, yours hasn't been stolen... check it out!
:: HAN Integra FAQ: If, by some miracle, yours hasn't been stolen... check it out!
#10
Thread Starter
Join Date: Jul 2003
Location: michigan
Posts: 28,282
Likes: 0
Received 0 Likes
on
0 Posts
I wanna see how bad they fuck over the pention guys. Daimler gets to wipe its hands of an 18billion dollar pention plan. If this new company comes in and renames etc they can claim they are a new company and basically give the big fuck you to all 18billion dollars worth of benefits unpaid. It also means they can tell the UAW to go fuck itself which is gonna be good in my opinion, but bad for the industry.