Kvartmílan => Almennt Spjall => Topic started by: 1965 Chevy II on October 11, 2008, 20:55:04
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GM, Chrysler discussing merger, source says
Talks began a month ago but have stalled in financial market turmoil
updated 11:22 a.m. CT, Sat., Oct. 11, 2008
DETROIT - General Motors Corp., Chrysler LLC and Cerberus Capital Management LP have held preliminary talks about a merger or an acquisition of Chrysler by GM, according to a person familiar with the talks.
Chrysler, which is 80.1 percent owned by Cerberus, already has a joint venture with GM making a hybrid gas-electric powertrain, and has discussed a full merger or acquisition with GM, said the person, who did not want to be identified.
The Wall Street Journal, citing people it described as familiar with the discussions, reported that Cerberus, a private equity firm that also owns 51 percent of GMAC Financial Services, proposed trading Chrysler’s automotive operations to GM in exchange for GM’s remaining 49 percent stake in GMAC.
The New York Times, also citing people familiar with the talks, reported that the automakers were discussing a merger.
GMAC, primarily an auto lender, also has significant mortgage lending operations that have been hit hard by the crisis in that industry.
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 have began more than a month ago. The Times said its sources pegged the chances of a merger being completed at “50-50.”
“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 in an e-mail.
“The company is looking at a number of potential global partnerships as it explores growth opportunities around the world,” Chrysler said in an e-mailed statement issued Friday night.
“Beyond those partnerships already announced, however, Chrysler has not formed any new agreements and has no further announcements to make at this time.”
A tie-up between the automotive giants would be historic for the industry and solidify GM’s position as the global sales leader, which it has been in danger of losing to Toyota Motor Corp. GM and Toyota finished 2007 essentially even in vehicles sold worldwide.
This would not be the first time Detroit’s automakers have explored mergers.
GM talked with DaimlerChrysler AG in 2007 about acquiring Chrysler before Cerberus made a deal to acquire most of the automaker, but the talks fell through when GM decided it should concentrate on cost savings and efficiencies by globalizing its own operations.
In 2005, GM and Ford Motor Co. reportedly held talks regarding a potential business combination.
Cerberus acquired its GMAC stake in 2006 for $14 billion and bought 80.1 percent of Chrysler from Daimler AG in August 2007 in a $7.4 billion deal. Cerberus and Daimler confirmed last month they are in talks for Cerberus to acquire Daimler’s remaining Chrysler stake.
The auto industry has been hit hard in recent weeks by the effects of the credit crisis, prompting GM and Ford to issue statements Friday to dispel the notion that they might be headed for bankruptcy.
GM and Ford shares were battered with the rest of the stock market this week, falling to lows not seen in decades.
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sælir félagar.þetta eru hryllilegar fréttir.kv AUÐUNN HERLUFSEN
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Sammála Auðni ....þetta eru hryllilegar fréttir.
Fyrst var það Sonny´s -Hemi svo þetta ...........nú er ég hræddur um að Mr. Shafiroff verði að fara úr svarta Chevy-jakkanum sínum.
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Lítið á björtu hliðarnar, núna verður örugglega hægt að fá Charger og Ram með LS mótor...
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Og til hvers að troða einhverju LS dóti í þessa bíla, þegar það er nú þegar hægt að fá þá með HEMI
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hemi hvað :!:ég tók svona hemi skrjóð bara á Duramax disel pikup í nefið og reindi eigandi á hemi 5 sinnum og tapaði alltaf :D
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og var það 5,7 eða 6,1 HEMI, og hvernig fór spyrna við LS, eða viltu ekki spyrna DURAMAX við LS af hræðslu við að vinna O:)
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Þetta eru bara góðar frétti fyrir GM menn... nú er kannski séns að fá 09 camman með öðru en slant six :lol:
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Þetta eru bara góðar frétti fyrir GM menn... nú er kannski séns að fá 09 camman með öðru en slant six :lol:
Hann reyndar kemur líka með 6.2l v8 en ok.
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Ég hélt alltaf að "slant six" hafi verið frá Chrysler. Þ.a.e.s. hallandi sexurnar í Dodge og Plymouth 8-[?????
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og var það 5,7 eða 6,1 HEMI, og hvernig fór spyrna við LS, eða viltu ekki spyrna DURAMAX við LS af hræðslu við að vinna O:)
hvað eða hver er þetta LS :-k
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Jæja Stjáni minn....nú ertu loksins að verða 1/2 Moparkall ........múúúúúhaaaa
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það fréttist út í Ameríkuhrepp að ég væri að setja LS-1 í cherokee og herra Chrysler gat nú ekki verið minni maður enn ég.