Chrysler to Go Private
Business
Cerberus Drags Private Equity Firms into Spotlight()
May 15, 2007 Cerberus, the private equity firm that is buying Chrysler, has been on a tear in recent years, buying up billions of dollars worth of companies. Other so-called "private equity groups" have been doing the same, making private equity one of the most powerful forces in the financial world.
Business
Q&A: Under the Hood of the Chrysler Deal()
May 14, 2007 Germany-based DaimlerChrysler announced Monday that it is selling 80 percent of the Chrysler Group to a private equity fund for $7.4 billion. The new owner, Cerberus Capital Management, inherits an automobile company that is losing money and laying off workers. Here, a look under the hood at the sale.
Business
Private Equity Group in $7.4 Billion Deal for Chrysler()
May 14, 2007 German automaker DaimlerChrysler has announced that it is selling 80 percent of its struggling Chrysler division to Cerberus Capital, a private equity firm. Cerberus will pay $7.4 billion for the U.S.-based entity, but little of that money will go to Daimler. In the transaction announced this morning, Daimler will actually end up paying to get out from under Chrysler's crushing liabilities.
Business
United Auto Workers Support Chrysler Sale()
May 15, 2007 Cerberus Capital Management's deal to buy a substantial stake in Chrysler for $7.4-billion has found unusual support from the United Auto Workers. One possible reason is that the UAW might get control of the pension fund.
Business
'Marketplace' Report: Impact of Private Equity Firms()
May 14, 2007 An expert discusses the impact private equity firms can have on companies, as Cerberus moves to buy an 80 percent stake in automaker DaimlerChrysler's Chrysler Group.
