Cerberus Close to Consuming Chrysler

Proving that three heads may be better than one
By News Dude,  Newser Staff
Posted May 13, 2007 10:10 PM CDT
Cerberus Close to Consuming Chrysler
(FILES) US flags flutter in the wind underneath a sign displaying...   (Getty Images)

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. (More Chrysler stories.)

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