A merger between US automakers General Motors Corp and Chrysler is likely on hold until after next week's presidential election, as the U.S. Treasury Department said it will not provide the automakers with aid, the Detroit Free Press reported Friday.GM had asked the Bush administration and Congress for a loan of about $10 billion to help keep the struggling company operational. It said that it could possibly use the aid to fund a merger between it and Chrysler, which is owned by Cerberus Capital Management.
Many experts have said both companies would need to merge to stop their recent bleeding. GM has only about $21 billion in cash and Chrysler has $11 billion, although most of that was borrowed
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