Monday, May 14, 2007

Chrysler on Verge of Sale to a Private Firm

"DaimlerChrysler appears close to selling the struggling Chrysler Group to a private equity firm that specializes in restructuring troubled companies, unwinding a 1998 merger that was meant to create a trans-Atlantic automotive powerhouse, people with direct knowledge of the discussions said on Sunday.

An announcement could come as soon as Monday, though last minute details could delay a final agreement between the investment firm, Cerberus Capital Management, "

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