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Latest Cerberus Capital Management LP Stories

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2008-12-18 15:52:23

U.S. automaker General Motors Corp. denied reports that it had reopened merger talks with Chrysler LLC, while Chrysler refused to confirm the story. The Wall Street Journal reported Thursday that Chrysler and GM Motors Corp. had reopened merger talks with Chrysler's owner saying it may part with a share of the company, sources said. Both Chrysler and GM are negotiating with White House and Treasury officials to design a bailout plan as slumping sales have pushed both to the brink of...

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2008-12-18 10:45:54

Chrysler LLC and General Motors Corp. have reopened merger talks with Chrysler's owner saying it may part with a share of the company, sources said. Both Chrysler and GM are negotiating with White House and Treasury officials to design a bailout plan as slumping sales have pushed both to the brink of bankruptcy. Both have announced steep production cuts to adjust to slumping sales. Cerberus Capital Management LP, Chrysler's owner, initiated the discussions with GM, The Wall Street Journal...

2006-04-03 08:11:37

By Mark McSherry NEW YORK (Reuters) - General Motors Corp. on Monday said it agreed to sell a 51 percent stake in its financing arm, General Motors Acceptance Corp., to a consortium led by hedge fund Cerberus Capital Management LP for a total of $14 billion. The long-awaited sale will generate much-needed cash for the world's largest automaker, which reported a $10.5 billion loss in 2005. GM hopes the move may also help to restore the financing unit's credit rating to...

2006-04-03 06:54:32

NEW YORK (Reuters) - General Motors Corp. on Monday said it had agreed to sell a 51 percent stake in its financing arm, General Motors Acceptance Corp., to a consortium led by hedge fund Cerberus Capital Management LP for $14 billion, payable over three years. The Cerberus-led investor group, which includes the private equity unit of Citigroup and Japan's Aozora Bank Ltd., had been viewed as the front-runner for the GMAC stake in what has been a complicated and drawn-out bidding...

2006-04-03 07:16:12

NEW YORK (Reuters) - General Motors Corp. on Monday said it had agreed to sell a 51 percent stake in its financing arm, General Motors Acceptance Corp., to a consortium led by hedge fund Cerberus Capital Management LP for $14 billion, payable over three years. The long awaited sale will generate much-needed cash for the world's largest automaker, which reported a $10.5 billion loss in 2005. The move also help to restore the financing unit's credit rating to investment-grade status....