10-12-2008, 10:11 PM | #1 |
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GM/Cerberus talks over full ownership of GMAC
Posted Oct 12th 2008 6:31PM by Jeremy Korzeniewski
Filed under: Chrysler, LLC., GM, Earnings/Financials It's been a crazy few days as news broke that Chrysler and General Motors have been in talks to combine operations. It turns out that there's a pretty significant back-story to these proceedings, and it involves Cerberus Capital Management's possible desire to shed its car-building operations and acquire the rest of GMAC, of which it already holds a controlling stake of 51%, with GM holding holding the other 49%. According to reports, Cerberus would like to combine Chrysler Financial with GMAC, which would allow it to merge the offices of the two financial institutions and reduce costs. All right, that might make some sense, but what about merging the two automakers? That's the part that seems so confusing to analysts and us meager bloggers. Somehow, we feel certain that there's more to this story, which we'll be hearing about for some time. Source: The Detroit News via Autoblog http://www.autoblog.com/2008/10/12/g...rship-of-gmac/
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10-12-2008, 10:34 PM | #2 |
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hmmm for some reason that sounds like a bad idea
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10-12-2008, 10:37 PM | #3 |
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As we know it, the idea is that GM wants to buy Chrysler, and Cerberus wants to buy GMAC.
The merging of the automakers would be great if one were clearly in charge. If GM acquires Chrysler, then GM can sell assets.
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