MinisterofDOOM wrote:Uh...Chrysler was never going to buy GM. Other way around.
Nissan has expressed interest in Chrysler subsidiaries, but not Chrysler itself.
What? This was partly Nissans idea. Nissan is still manufacturing these even. They're just being SOLD by Dodge.
i did flip that, i remember now after looking around on my Cav forum.. .
heres the article i had for nissan..
Renault-Nissan to Buy Chrysler Stake?Written by: Autocar staff
http://www.autocar.co.uk10/23/2008 - 07:40 AMDetroit, Mich.
Chrysler may abandon its GM merger plans and sell a stake to Renault-Nissan, according to reports.
The Detroit News reports that Cerberus Capital Management, which owns 80 percent of Chrysler, has received the proposal from the French-Japanese partnership for a 20 percent share of the company, but is thought to still favor a deal with GM.
A Renault-Nissan stake in Chrysler was first proposed in 2006, when Kirk Kerkorian was Chrysler's largest shareholder.
Having a non-U.S. car maker as a Chrysler shareholder would make sense for the U.S. government, as it would allow the “big three” to continue competing without huge dealership cutbacks.
Chrysler has recently canceled development of its Phoenix V6 engine, a key element of any future model plans, suggesting that Cerberus has decided to go ahead with some kind of rationalization.
The current global lack of credit has slowed progress on the GM deal, though one possible, cashless transaction involved GM handing Cerberus its GMAC financialservices division in exchange for the private equity group's Chrysler shares. Cerberus has said that it still has access to a further $12b of funding.
If Chrysler ended up owned by GM, the largest car maker in the U.S., it would lead to tens of thousands of job losses in the car industry at a very politically sensitive time.
Thanks to SpeedTv.com for the article.