Bizarre is one word to describe this
Daimler mulls GM stake to pay for Chrysler unit: report
LONDON (Reuters) -- DaimlerChrysler AG is thinking about taking a minority
stake in General Motors Corp. as payment for Chrysler if a deal between the
automakers takes place, the Financial Times said on Monday.
Such an all-share option was being weighed up by the firm, the newspaper
said, citing people familiar with the situation.
Chrysler offers details to job-cut plan
Other possible options included a sale of DaimlerChrysler's struggling U.S.
arm to private equity or industry investors, and a flotation of Chrysler,
according to the FT.
"They are interested in who takes Chrysler over and they would be happy to
take equity in GM in return," the FT quoted an unnamed leading shareholder
as saying. The shareholder was citing talks with DaimlerChrysler's (Charts)
senior managers, it said.
Chrysler: No immediate decision on sale seen
Chrysler Group Chief Executive Tom LaSorda told employees last week it might
take months before questions about a possible sale of the unit could be
Sources familiar with the situation told Reuters earlier this month that GM
(Charts) had conducted preliminary talks with Chrysler aimed at an
acquisition or a strategic alliance.
"If they pull a knife, you pull a gun. If they put one of yours in the
hospital, you put one of theirs in the morgue."
Sean Connery, "The Untouchables"