General Motors held merger talks with Chrysler: reports

By Alexander Davis

SAN FRANCISCO (MarketWatch) — General Motors Corp. reportedly has held preliminary talks to acquire Chrysler LLC, against the backdrop of an increasingly bleak decline for the auto industry. Reports on Friday night by The Wall Street Journal and the New York Times both cited unnamed people familiar with discussions between the two U.S. automakers. GM has been in talks with Cerberus Capital Management LLC, which owns 80.1% of Chrysler and 51% of GMAC, an 89-year-old auto lender that has suffered from its foray into mortgage banking. Cerberus proposed a swap in which GM would acquire Chrysler’s automotive operations, and in turn give Cerberus its remaining 49% stake in GMAC, the Journal reported.

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7BD5E4EB2A%2D6C47%2D4007%2D9CA0%2D9BDDFAC28366%7D&siteid=mktw

Did you like this? If so, please bookmark it, about it, and subscribe to the blog RSS feed.

Possibly Related Posts:

• Not many seem to seriously be considering the uphill battle and tremendous odds Yahoo is facing right now.
• US Oct Online Retail Sales Up Just 1% - ComScore
• Perspectives on the latest Fannie/Freddie homeowner rescue plan - by Peter Schiff.
• In recession or depression, people only consume food, go short Retail stocks
• This bailout manipulation must stop. More debt is not the solution to debt. Making everyone pay for the actions of fools.

Did you like this? If so, please bookmark it, about it, and subscribe to the blog RSS feed.

Technorati Tags: Alexander Davis, Auto Industry, Auto Lender, Automakers, Backdrop, Capital Management Llc, Chrysler, Foray, Friday Night, General Motors, General Motors Corp, Gm, Gmac, Marketwatch, Merger Talks, Mortgage Banking, New York Times, News Story, Siteid, Wall Street Journal