Daily Archives: October 11, 2008

General Motors and Chrysler have held merger talks


The Wall Street Journal, citing people it described as familiar with the discussions, said Cerberus Capital Management, the private equity firm that owns 80.1 per cent of Chrysler and 51 per cent of GMAC Financial Services, proposed trading Chrysler’s automotive operations to GM.

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.

read more | digg story