|11-03-2008, 03:37 PM||#1|
Drives: Off Into The Sunset
Join Date: Mar 2008
Location: Cape Coral, Florida
Chrysler stops talks with Nissan/Renault in favor of GM
If Cerberus is ever going to shed itself of Chrysler, it looks like a deal will happen with soon-to-be former rival General Motors. Automotive News is reporting that no further talks have been scheduled between Nissan/Renault and the Auburn Hills-based automaker, as Cerberus has determined that the General can provide a sweeter deal that may also be better for the auto industry. It doesn't help that Nissan/Renault CEO Carlos Ghosn has decried that a deal between the two doesn't make sense during these shaky economic times.
We've never been at the table of a multi-billion dollar negotiation before, but we're pretty sure it's better to be sitting across the table from more than one company that wants what you've got. At this point, the once preposterous idea of GM merging with/buying/devouring Chrysler seems likely, and only a presidential election and a few billion dollars stand in the way of its completion.
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