In early 2007, Daimler sold 80 percent of Chrysler to private equity firm Cerberus Capital Management LLC for $7.4 billion. This strategic move ended a nine-year merger. Daimler can now concentrate on its luxury Mercedes brand and its truck business.
Daimler Chrysler Merger - Marriage made in heaven?
In 1998, Daimler and Chyrsler mwrged to form the Daimler-Benz and Chrysler Corp. in a $36 billion deal. At that time, then-CEO Juergen Schrempp described the merger as a marriage made in heaven. Since then, up-and-down earnings and repeated cost-cutting soured many investors on the effort to create a global auto giant.
"We both (He and Warren Buffett) insist on a lot of time being available almost every day to just sit and think. That is very uncommon in American business. We read and think. So we do more reading and thinking and less doing than most people in business, because we like that kind of a life."
-Charles Munger, Vice-Chairman of Berkshire Hathaway
For your suggestions or inquiries, mail me at Casebiz@gmail.com