|
CNBC'S MOST SHARED
- Unemployed? Bored? Make Money Playing Beer Pong
- WPP's Sir Martin Sorrell on the Ad Recession
- Social Networking's 'Naked' Truth
- Merrill's McCann Seen as UBS Wealth Frontrunner
- Warren Buffett's Top Three Investment Rules for the Average American
- The View From Newark
- Eric Schmidt on Government Scrutiny and Economic Recovery
- Blog You!!!
- Warren Buffett's Complete Sun Valley CNBC Interview - Transcript and Video
- Eric Schmidt on Government Scrutiny and Economic Recovery
- Market 360: The Week's Best & Worst
- Geek Squad V. Gizmodo
- Brandt: Google Chrome OS in the Post-PC Age
- Other People Are Weirder Than We Are
- Bank Failures: Is The Nightmare Over? (Video)
- California Here I Go? No.
- Roginsky: No More Mr. Nice Guy
- Commercial Conundrum
- Government Selling Bank Stakes for Too Cheap: Panel
- Buffett's Top 3 Investment Rules for Average Americans
- Market Insider: Earnings Loom in the Week Ahead
- Bulls Get Summertime Blues, But It's Hot Fun for Bears
- As Banks Fail, Strong Institutions Become More Visible
- GM IPO in Second Quarter 2010 at the Earliest: CFO
- Merrill's McCann Seen as UBS Wealth Frontrunner
- It's Not the Wealthy Who Are Leaving California: Study
- Atlantic City Takes Hit as Pennsylvania Casino Opens
Text Size 
Apr.04
12:08 PM ET
Wednesday, 4 Apr 2007
For Sale: "Broken" Chrysler; Blackstone, Cerberus May Bid
 |
David Zalubowski / AP A row of Pacifica vehicles are lined up on the lot of a Chrysler dealership in Thornton, Colorado. |
] confirms that its Chrysler division is up for sale. The announcement was made today by Chairman Dieter Zetsche at his company’s shareholder meeting in Berlin. Although he did not name potential buyers, private-equity firms Blackstone and Cerberus, and Canadian car group Magna International [MGA
Loading...
()
] have reportedly made formal bids on Chrysler.Brad Rubin, auto trading sector specialist at BNP Paribas, and Michelle Krebs, senior editor at Edmunds’ AutoObserver.com appeared on "Morning Call" to debate whether a sale to private equity would be the best thing for Chrysler’s future.
“Private equity firms will move aggressively to buy before September,” said Rubin, who believes the firms could make a small bidding war for Chrysler. “Chrysler has a broken business model and needs further restructuring.”
Krebs does not expect this to be your typical private-equity buyout: “It’s very possible that Daimler maintains a stake in Chrysler,” said Krebs, who believes that Cerberus is the most interesting bidder to watch.
related links
© 2009 CNBC.com
MORE FROM CNBC
TOPIC : Automobile Industry
SECTOR : Automobiles and Parts
Data is a real-time snapshot *Data is delayed at least 15 minutes