1. Home
  2. Mercedes Autos and SUVs
  3. D(C) pays $650m to dump Chrysler

D(C) pays $650m to dump Chrysler

formatting link
Daimler pays to dump Chrysler German automaker will end up actually paying $650 million to unload Chrysler to end its exposure to billions in ongoing losses, healthcare costs. By Chris Isidore, CNNMoney.com senior writer May 14 2007: 11:53 AM EDT

NEW YORK (CNNMoney.com) -- DaimlerChrysler moved to undo the most expensive and one of the least successful mergers in auto industry history Monday as it agreed to essentially pay to dump the money-losing Chrysler unit which it paid $37 billion for nine years ago.

Reply to
Spam away
Loading thread data ...

Now I don't understand the "paid $37 billion" that's been bandied about. To whom did they pay it? I was a Chrysler stockholder. I got

249 shares of DaimlerChrysler stock in exchange for, I believe it was, 400 shares of Chrysler. I got no money. I got stock valued at roughly what my Chrysler stock was valued at before the merger. DBAG stockholders also got DC stock, valued at what their DBAG stock was valued at before the merger. How did $37 billion change hands?
Reply to
Lloyd

MotorsForum website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.