Saturday, November 8, 2008
Chrysler News-Cerberus still seeks takers for Chrysler
Latest From The Detroit News
Alisa Priddle / The Detroit News
Cerberus Capital Management LP is seeking other options for Chrysler LLC after frontrunner General Motors Corp. suspended its acquisition efforts.
Two people familiar with the matter confirmed that Cerberus wants to re-engage the Renault SA-Nissan Motor Co. alliance after those discussions ended last week when it became apparent that Cerberus favored a deal with GM.
Hyundai Motor Co. Ltd. is described as one of a number of companies with which Cerberus continues to talk about a strategic partnership or the acquisition of some or all of Chrysler's automotive assets, a source familiar with the situation said. The source stressed that Hyundai did not just jump into the fray upon GM's exit.Chrysler will not remain intact, predicted Charles Chesbrough, senior economist for CSM Worldwide, an automotive market research firm in Northville. "The next step is that Chrysler would be broken up and pieces taken over by other companies," he said, noting there don't appear to be many suitors interested in the entire company.
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