6 Votes

Boost it!

Daimler Says Cerebrus Makes Ransom Demands Over Remaining Stake

Agent009 submitted on 11/26/2008 Official Bell & Ross Timestamp: 1:14:56 PM

6 user comments | Category: Misc News | Source: | SOURCE: www.freep.com

Cerberus Capital Management’s efforts to acquire the final 19.

9% stake in Chrysler from Daimler AG have hit a snag.

Daimler issued a statement this morning saying the negotiations “have been made considerably more difficult during the last weeks due to exaggerated demands by Cerberus.”

The rare public statement by an automaker engaged in such talks does not bode well.

Today, Daimler said Cerberus’ demands exceed the value of Cerberus’ original investment in Chrysler -- $7.2 billion.


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Daimler Says Cerebrus Makes Ransom Demands Over Remaining Stake

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Agent009

"If everything seems under control, you're just not going fast enough."

— Agent009 (View Profile)


User Comments

njsidekick3

Zhe Zermans, Ze Pzay Zou Nozhing!

— njsidekick3 (View Profile)

Posted on 11/26/2008 2:09:09 PM | reply to this comment | Votes: 1   

pacotacolol

Cerebrus sounds like some sort of male enhancement pill

— pacotacolol (View Profile)

Posted on 11/28/2008 9:25:44 PM | | Votes: 1   

Knightrider

Dr. Cerebrus? jjjjj

— Knightrider (View Profile)

Posted on 11/26/2008 5:58:09 PM | reply to this comment | Votes: 1   

TurboSpyder

I don't get it. If Daimler says that its 19% share of Chrysler is worth nothing, why don't they just give it to Chrysler or sell it to them for $1.00?

— TurboSpyder (View Profile)

Posted on 11/26/2008 6:42:18 PM | reply to this comment | Votes: 2   

TurboSpyder

BMW paid the MG Rover Group to take Rover off its hands in 2000.

— TurboSpyder (View Profile)

Posted on 11/26/2008 6:45:20 PM | | Votes: 1   

TheDepressingTruth

Remember the last American Automobile Company that was in business with Mercedes Benz?

Ever heard of Studebaker?

— TheDepressingTruth (View Profile)

Posted on 11/27/2008 2:29:35 AM | reply to this comment | Votes: 1   

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