Private equity is reshaping the U.S. economy as well as its capital markets and is a force to be reckoned with.
DaimlerChrysler will use the repayment of intercompany loans to reduce its debt sharply once the sale of its U.S. arm Chrysler closes, Chief Financial Officer Bodo Uebber told a newspaper.
General Motors' Rick Wagoner said he expected more consolidation in the U.S. auto industry and indicated a merger of GM's former financial arm GMAC was possible.
If history is any indication, Cerberus Capital will be slashing Chrysler down in size, making this Japanese automaker the last large car company left in America. He thinks it’s the only play worth considering in the sector. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The rump of DaimlerChrysler will do its best to stay independent once the sale of U.S. arm Chrysler goes through, Chief Executive Dieter Zetsche was quoted by the Wall Street Journal as saying.
DaimlerChrysler's supervisory board on Wednesday formally cleared the way for the sale of most of the company's money-losing U.S. unit, Chrysler Group, to private equity firm Cerberus Capital Management LP.
After its sale to Cerberus Capital Management, Chrysler will focus more aggressively on product development and pursuing joint ventures and partnerships with automakers overseas, reports CNBC's Phil LeBeau.
Talk about an expensive ride. Monday, Daimler-Chrysler (DCX) agreed to sell about 80% of its U.S. based Chrysler unit to private equity firm Cerberus for nearly $7.5 billion - after paying $36 billion for it in 1998. Will the deal lead to a rebirth of the U.S. auto industry?
Talk about a sign of the times. Monday, DaimlerChrysler essentially pays money to unload the Chrysler division. Tuesday, Chrysler posts a first quarter loss of $1.98 Billion. Good thing Chrysler CEO Tom LaSorda has such an upbeat outlook on things, otherwise he'd really be depressed at how far his company has fallen.
DaimlerChrysler on Tuesday posted a 73% rise in first-quarter profit as one-off gains and a profit rebound at Mercedes helped overcome ballooning losses at Chrysler, the U.S. arm it is selling.
Should you long or short auto stocks? In the wake of the deal between DaimlerChrysler and private equity firm Cerberus Capital, investors want advice -- and Dan Poole, assistant director of research at National City's private client group, and Scott Kays, president of Kays Financial Advisory, joined "Closing Bell" to share their views.
Stocks ended mixed on Monday as the latest batch of merger news failed to spark excitement among investors ahead of the release of key economic data. "The market has somewhat become like Pavlov's dog, waiting for some blockbuster merger deals to be announced," said Robert Pavlik, chief investment officer at Oaktree Asset Management.
Private equity firm Cerberus Capital Management will buy the majority of DaimlerChrysler's struggling Chrysler Group for $7.4 billion, a fraction of the $36 billion deal that created the transatlantic car union nine years ago.
Bradley Rubin, an auto trading specialist at BNP Paribas, told CNBC’s “Morning Call” that he’s surprised the United Auto Workers Union supports Cerberus Capital Management’s deal for Chrysler.
Cerberus Capital Management, which agreed to buy a majority stake in Chrysler for $7.4 billion, has been loading up on auto assets and industry experts recently but still faces major challenges in turning the struggling auto maker around, CNBC's Melissa Lee reports.
Stocks are looking for direction amid a flurry of takeover headlines this morning. Asian stocks were higher overnight on the back of Wall Street's Friday gains, but European markets are mostly weaker.
Private equity firm Cerberus Capital Management may be the top contender to buy control of DaimlerChrysler's struggling Chrysler Group, though other bidders remained in the mix, according to newspaper reports.
Magna International is open to DaimlerChrysler keeping a stake in struggling automaker Chrysler. Separately, Magna secured a $1.54 billion investment from Russian billionaire and automotive entrepreneur Oleg Deripaska .
Canadian automotive parts supplier Magna International is the only remaining interested bidder for struggling U.S. carmaker Chrysler, Germany's Automobilwoche reported on Saturday.
There's plenty of talk today about the possibility of $4 gas this summer. If that happens, this could be one long hot summer for the Big Three. Thursday, when I talked with him, General Motors CEO Rick Wagoner indicated the country's largest automakers are already noticing a repeat of last year, when buyers moved from big rigs (trucks and SUVs) and more towards smaller cars.