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General Motors in merger talks with Chrysler

General Motors is in talks with Chrysler about a possible merger. However, according to the New York Times, negotiations are not certain to produce a deal.

The private equity firm that owns Chrysler is Cerberus Capital Management. It opened talks a month ago. The chances of the deal could work out to be 50-50 currently, and could take weeks to work out. 

According to the newspaper, the merger could be a historic event, since it would be two iconic names in the American auto industry coming together and striving to survive in an increasingly difficult environment. Both these companies have their roots in Detroit along with Ford, which dominated the car industry until Japanese and other foreign car manufacturers arrived in the United States.


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Posted by Jigar Gondalia on 14 October, 2008 1:23:14 PM IST #


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