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Daimler Says Cerebrus Makes Ransom Demands Over Remaining Stake |
Cerberus Capital Management’s efforts to acquire the final 19.9% stake in Chrysler from Daimler AG have hit a snag.Daimler issued a statement this morning saying the negotiations “have been made considerably more difficult during the last weeks due to exaggerated demands by Cerberus.”
The rare public statement by an automaker engaged in such talks does not bode well.Today, Daimler said Cerberus’ demands exceed the value of Cerberus’ original investment in Chrysler -- $7.2 billion.
[source]
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