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post #1 of 10 (permalink) Old 02-17-2007, 07:43 AM Thread Starter
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Reports: GM in talks to buy Chrysler Group

Reports: GM in talks to buy Chrysler Group

Sources say the No. 1 automaker may buy DaimlerChrysler's struggling auto unit, according to reports.

February 16 2007: 4:05 PM EST


NEW YORK (CNNMoney.com) -- General Motors is in talks to buy DaimlerChrysler AG's struggling Chrysler Group in its entirety, according to several reports.
According to the reports, sources in Germany and the United States said high-level talks between GM (down $0.14 to $36.30, Charts) and DaimlerChrysler (up $2.83 to $73.08, Charts) executives are taking place.


Its German parent confirmed Wednesday it is looking at strategic options for the North American unit. When asked if those options included a sale or spin-off of the unit, DaimlerChrysler Chairman Dieter Zetsche responded "this means all options are on the table."
Chrysler Group announced Wednesday it would be cutting about 13,000 workers and closing plants over the next three years as a part of a restructuring plan aimed to restore profits by next year.
Talks of an alliance between GM and DaimlerChrysler was first reported recently in Germany's Manager-Magazin.
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Other unnamed sources said to be familiar with the discussions confirmed the reports Friday for Reuters and the industry newspaper Automotive News.
DaimlerChrysler employed J.P. Morgan Chase & Co. to consider options for the Chrysler Group, to help the automaker explore strategic options, according to trade newspaper.
For sale: A smaller Chrysler
But others are also skeptical on whether the discussions are real.
"This would be an at least $5 billion plus deal and GM is not that liquid right now," John Casesa said, an automotive analyst with Casesa Strategic Advisors, told CNN. "I'm not convinced at all and I think it's unlikely."
Other experts contacted by CNNMoney.com said that while a GM purchase of Chrysler appeared unlikely, they could see other buyers emerging.
"The challenge is who would be a buyer," David Cole, chairman of the Center for Automotive Research, said Wednesday of a possible sale of Chrysler. "Maybe a Chinese company that really wants entrance into U.S. market or Renault-Nissan would see it fit with its strategy. But it's tough."
Chrysler's Valentine's Day massacre
Carlos Ghosen, the CEO of both French automaker Renault and Japanese automaker Nissan (Charts), had expressed interest in finding a North American partner to join the alliance between his two companies. Talks between GM and those two automakers last year were abandoned without any agreement.
Kevin Tynan, auto analyst at Argus Research, said Wednesday he believes Chrysler will end up being sold due to pressure from DaimlerChrysler's shareholders to undo the 1998 merger, but he thinks a sale to a private equity group is more likely than a combination with another automaker.
"There's value to those brands," he said. "I think relative to Ford Motor (Charts), there's less dead weight. Nine years later, it's probably the right thing to do. I think there's a feeling in Germany that it's time to cut bait."
Officials for DaimlerChrysler and GM issued no comments on the reports.
DaimlerChrysler has long tried to reverse the drop in sales with previous cost-cutting moves but slipped into the No. 4 spot last year behind Toyota (up $0.21 to $136.98, Charts) in the United States.
Other reports have suggested that talks between Chrysler and GM were more limited in scope than a full merger. The Wall Street Journal reported Thursday that the two were in talks to jointly develop a large SUV that would be similar to the Chevrolet Suburban, a product that Chrysler Group doesn't have in its lineup. The New York Times had a similar report Friday. Neither publication had their own reports on the potential merger talks as of mid-day Friday.

GM reportedly in talks to buy Chrysler Group - Feb. 16, 2007
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post #2 of 10 (permalink) Old 02-17-2007, 10:21 AM
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I can't imagine why GM would buy Chrysler: It would be a money-loser for a company that is just recovering from major financial problems of its own. Chrysler would just bring it back down to its knees. Not going to happen, IMO.

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post #3 of 10 (permalink) Old 02-17-2007, 10:23 AM
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Misery loves company. Remember the hudson, studebaker, and packard get together? Exactly.
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post #4 of 10 (permalink) Old 02-17-2007, 03:54 PM
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New GM motto: The shit gets shittier.

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post #5 of 10 (permalink) Old 02-17-2007, 04:04 PM
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New GM motto: The shit gets shittier.
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post #6 of 10 (permalink) Old 02-18-2007, 08:13 AM
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Angry

yea ok so now what the hell am i going to drive
i blew up the benz the gm wont pass the e test and now my beloved chrysler will be sold off and plucked clean to the bones
and ford well every ford i have ever owned has left me standing at the side of the road..shit , IH stopped producing pickup trucks 25 years ago. so its a tractor or a horse.
post #7 of 10 (permalink) Old 02-18-2007, 09:36 AM
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Don't worry dklown, you will find something suitable.
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post #8 of 10 (permalink) Old 02-18-2007, 10:02 AM
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you know my best freinds(rip) brother is doo doo the clown
home

this guy is fantastic with kids.
post #9 of 10 (permalink) Old 02-18-2007, 11:03 AM
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Quote:
Originally Posted by dklein
yea ok so now what the hell am i going to drive
i blew up the benz the gm wont pass the e test and now my beloved chrysler will be sold off and plucked clean to the bones
and ford well every ford i have ever owned has left me standing at the side of the road..shit , IH stopped producing pickup trucks 25 years ago. so its a tractor or a horse.
Not to worry, you still have the Japanese and Koreans to back you up. If worse comes to worse, the Chinese will come to your rescue soon. Isn't Capitalistic world a bitch?

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post #10 of 10 (permalink) Old 02-18-2007, 11:09 AM
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oh yea on the 123 forum theres a pix of a crane collapsed on a kia
see if you want to drive one after looking at that.
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