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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.
Chrysler, which has already announced plans to close plants like this one in Newark, Del., and cut 13,000 jobs, could be sold to rival General Motors, according to published reports.
Chrysler, which has already announced plans to close plants like this one in Newark, Del., and cut 13,000 jobs, could be sold to rival General Motors, according to published reports.
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CNN's Ali Velshi has details of Daimler Chrysler's restructuring plan. (February 14)
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.
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.
Chrysler, which has already announced plans to close plants like this one in Newark, Del., and cut 13,000 jobs, could be sold to rival General Motors, according to published reports.
Chrysler, which has already announced plans to close plants like this one in Newark, Del., and cut 13,000 jobs, could be sold to rival General Motors, according to published reports.
Photo Gallery launchSee more photos
A look at what's ahead for cars
The next blockbuster cars
Car companies are coming up with a lot of radical ideas. Here are ten that should go the distance. (more)
10 cars worth waiting for
A look at 10 new and redesigned cars coming out later this year that should make those shopping for a car consider holding off on their purchase. (more)
Alternate power cars
Car companies are looking at a variety of ways to get more miles out of a gallon, a bushel or a volt. (more)
Video More video
CNN's Ali Velshi has details of Daimler Chrysler's restructuring plan. (February 14)
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.