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Cerberus Close to Consuming Chrysler

Proving that three heads may be better than one

By NewsDude , Newser Staff

Posted May 13, 2007 10:10 PM CDT

(Newser) – Private equity firm Cerberus Capital Management is said to have cut a deal to buy Chrysler from DaimlerChrysler. Cerberus has lots of experience in negotiating for assets in the auto industry, having led the buyout of auto parts maker Delphi, which has not yet closed and may yet fall apart.

If Cerberus is successful, it will beat out a private equity group led by Blackstone, auto parts maker Magna and perennial Chrysler wannabe owner Kirk Kerkorian.

(FILES) US flags flutter in the wind underneath a sign displaying... (Getty Images)

FILES - Picture taken 07 January 2007 shows Dr. Dieter Zetsche... (Getty Images)

Relief of Cerberus on portico of castle Friedrichsfelde in Tierpark Berlin zoo, Berlin, Germany. Photo taken by User:Sebastian Wallroth on 22. May 2005. Public Domain (Wikimedia Commons)

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Cerberus Close to Consuming Chrysler

Proving that three heads may be better than one

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Cerberus Close to Consuming Chrysler

Proving that three heads may be better than one

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OTHER STORIES ON OUR RADAR

private equity • Chrysler • Delphi • DaimlerChrysler • Cerberus Capital Management • Magna International Inc. • acquisition • auto industry

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Chrysler Roars to $225M Profit

Finishes first profitable year since its bankruptcy

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

Chrysler's Big News: We Repaid Bailout Loan

Announcement coming tomorrow at Michigan plant

Obama Should Campaign on Auto Bailout

Some Republicans were ready to let GM, Chrysler die: Jonathan Cohn

Chrysler Turns 1st Profit Since Bankruptcy

Revenue climbs 35% as Big Three return to profitablility

About Us

Site

Newser By Users

Community

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What is Newser?