Monday, March 26, 2007

Detroit News Reports General Motors (GM) Still Has Bid on Table for DaimlerChrysler's (DCX) Chrysler Division

The Detroit News reports General Motors (NYSE: GM) still has a bid on the table for DaimlerChrysler's (NYSE: DCX) Chrysler division. The article states GM's bid has 3 components, but none of which include a cash payment (according to sources). The deal would include GM giving DCX a minority stake in GM with roughly less than 10% of GM stock, plus payoff $1 billion in Chrysler's health care costs then seek concessions for UAW workers.

The article continues by saying other potential suitors has stepped up, however, GM and Chrysler are still in talks and have met several times

Labels: ,


Post a Comment

<< Home