Word: daimler
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...kind of cute, actually, how they came to be an item: following some small talk last year over a possible joint venture in Latin America or maybe Asia, Juergen Schrempp, 53, chairman of doughty Daimler-Benz, invited Chrysler chief Robert Eaton, 58, to spend some quiet time alone during the crowded Detroit Auto Show in January. Schrempp said he liked Chrysler a lot and suggested that maybe they should consider going...
...Daimler-Benz Deutschland Über Detroit? In what is set to become the largest industrial merger in history, German luxury automaker Daimler-Benz announced Thursday it will effectively absorb America's No. 3 car firm, Chrysler. Daimler describes the deal as a "merger of equals," but there's no doubt about who the senior partner is here. Chrysler shareholders will receive just over half a share in the new company for every one share their Daimler counterparts get, and Chrysler chair Robert Eaton will lose his co-leadership position inside of three years...
...While the speed of the deal took analysts by surprise, the disparity didn't. Daimler, after all, is an automotive colossus, the second largest carmaker in Europe. "German auto pros will tell you directly -- Daimler is buying Chrysler," reports TIME's Bonn Bureau Chief Jordan Bonfante. "Germany is buying the U.S., and they've got deep pockets...
...Daimler-Benz It's a match made in Detroit heaven: Luxury European auto meets mass-market American car. They marry, and await the pitter-patter of $131 billion in annual worldwide sales. That's the love story Wall Street would like to write for Daimler Benz and Chrysler, who went public with their wooing Wednesday. Why? Because the dowry would be huge: Sources close to the deal say Daimler would buy their bride for $35 billion, a full $8 billion above Chrysler's market value. Such a wedding would make for the largest industrial merger in history...
...much more simple negotiation that has dragged on for months." Other hurdles on the road to wedlock: Antitrust investigations in both Brussels and Washington. Of course, the course of corporate love never did run smooth. And the promise of all those hot sports utility vehicles at Chrysler should keep Daimler on the straight and narrow...