REWahoo
Give me a museum and I'll fill it. (Picasso) Give
...how about Daimler Chrysler?
- Daimler buys Chrysler for $37 Billion in 1998
- The "merger of equals" fails miserably and the new company bleeds money
- Daimler Chrysler sells dumps Chrysler in 2007 for a bargain price of $7.4 Billion. [Edit: Daimler only sold 80% of Chrysler, retaining 20% for future losses opportunities.]
However, it looks as if Daimler is actually going to have to write a check at closing:
"...the German automaker, which will be renamed simply Daimler, will not actually get most of the money that Cerberus is paying for the once proud automaker. Instead Cerberus will contribute $5 billion to the Chrysler auto operations it will now control, with just over another $1 billion going to Chrysler's finance arm.
While Daimler will receive the remaining $1.4 billion of Cerberus' capital contribution to the sale, Daimler expects to have to cover another $1.6 billion in Chrysler losses before the deal closes. So Daimler estimates that it will end up paying out about $650 million to close the deal..."
When I look at my business and personal financial screw ups against this disaster, I've got nothing to be ashamed of.
- Daimler buys Chrysler for $37 Billion in 1998
- The "merger of equals" fails miserably and the new company bleeds money
- Daimler Chrysler sells dumps Chrysler in 2007 for a bargain price of $7.4 Billion. [Edit: Daimler only sold 80% of Chrysler, retaining 20% for future losses opportunities.]
However, it looks as if Daimler is actually going to have to write a check at closing:
"...the German automaker, which will be renamed simply Daimler, will not actually get most of the money that Cerberus is paying for the once proud automaker. Instead Cerberus will contribute $5 billion to the Chrysler auto operations it will now control, with just over another $1 billion going to Chrysler's finance arm.
While Daimler will receive the remaining $1.4 billion of Cerberus' capital contribution to the sale, Daimler expects to have to cover another $1.6 billion in Chrysler losses before the deal closes. So Daimler estimates that it will end up paying out about $650 million to close the deal..."
When I look at my business and personal financial screw ups against this disaster, I've got nothing to be ashamed of.