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According to unnamed sources with knowledge of the discussions, Nissan Motor Co. does not want to use its $4.6 billion in cash to acquire a 20 percent stake in Chrysler. The Japanese automaker would prefer a share swap, similar to the cross-ownership alliance it has with French automaker Renault. Nissan is profitable but wants to [...]
Alternatives to a Chrysler-GM merger are arising as the proposal is meeting resistance from the investment community. Cerberus and General Motors don’t have enough cash to make the deal work. One analyst says the merger would need an additional $10 billion or more to make it work and notes there is still a significant risk. [...]
Renault and Nissan have, according to Detroit News, offered to buy 20% of Chrysler. Nissan would pay its part with cash on hand while Renault would borrow to pay its share. There are already links between Nissan and Chrysler (with Chrysler to sell Nissan small cars and Nissan to sell Chrysler pickups). According to the [...]
French automaker Renault today told Reuters it was not talking to anyone about buying Chrysler’s Jeep Division from Cerberus Capital Management. People familiar with the situation had said the private equity firm was in negotiations to sell the automaker, in whole or in pieces, to Renault or General Motors. “There are no discussions. We are [...]