Reports: GM in talks to buy Chrysler Group

[Herman Munster]

http://money.cnn.com/2007/02/16/news/companies/chrysler_gm/index.htm?cnn=yes

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 (up $0.16 to $36.60, Charts) and DaimlerChrysler (up $2.50 to $72.75, Charts) executives are taking place.

Chrysler Group announced Wednesday it would be cutting about 13,000 workers over the next three years as a part of a restructuring plan. Reports also said its German parent was considering selling or spinning off the unit.

Talks of an alliance between GM and DaimlerChrysler was first reported last week in Germany's Manager-Magazin.

[enid602]

1. GM

Gosh, while they're at it, why don't they just buy up Delta Airlines, Fannie Mae and the Social Security Administration? As Bush would say, it's all just money, anyway. Glad to see that (after such a short while) GM has sufficiently cured its woes to the extent that it can now focus on acquisitions.

[Skink]

2. They're going to make more Suv's.

[Demeter]

3. And When Does the Anti-Monopoly Law Kick In?

Or do we just bow to our Japanese, Korean, and German masters now?

[FormerDittoHead]

5. Read my mind. Hey, why don't we just have one, big, corporation own everything...

...and the Saudis, Chinese and British control it.

fyi: British are the largest foreign investors in the US.

[Psephos]

4. This will horrify those "progressives" who wish US automakers would all go bankrupt

Taking all the union auto assembly jobs down the drain with them, too.

[trogdor]

6. So where do the divisions fall in?

Dodge - between Chevrolet and Pontiac, closer to Chevy.
Jeep - below GMC Truck, at entry level.
Chrysler - between Pontiac and Buick, closer to Buick.

Seriously, I spent some time at at a Dodge store recently, and I wasn't impressed. Bad paint, sharp edges hidden behind trim, oddly-fitting taillight assemblies, lots of flimsy plastic, same old shit since 1982.

[Moby Grape]

8. Jeep is worth something, the others will be euthanized....n/t

[tammywammy]

14. Well, I wonder about Dodge

Isn't the Caravan the top minivan out there? And there's still a market for minivans.

I don't think that a GM purchase of Chrysler will happen, if anything China's Chery stands more likely to buy it out.

[A HERETIC I AM]

7. Better that GM buys the brand than letting it fail

I don't see this as a bad thing. I don't understand why others would.

[lithiumbomb]

9. this is likely bogus

They are talking to each other, and likely discussing a joint venture with the GMT900 platform (full size SUV and truck) and who knows what else. It is _very_ unlikely that GM would purchase the Chrysler division of DaimlerChrysler as they have exactly zero products that GM could use in its current portfolio. Jeep is worth something to somebody, but not to GM which has the Hummer division to compete with it. You can expect to see further cooperation I would think though, perhaps some platform sharing and parts sharing.

[Doondoo]

10. I'll believe it when I see it

[durtee librul]

11. Me too

GM can't pay thier own bills, so where the heck would they get the $$ to buy anything but a burger from the dollar menu at Wendy's? I know, it's all 'on paper' anyhow.....right? RRRRRRRIIIIIIIIIGGGHT.

[Vidar]

12. No money for jobs, untold biliions for illegal acquisitions.

[PassingFair]

13. You some kinda Socialist or sumpthin'

What's GOOD for GM......

:sarcasm:

[Vidar]

16. Walter Reuther & John L. Lewis will rise again!

[roamer65]

15. FoMoGMopar.

How does that name sound for a merged autocompany?:crazy: