GM says Chrysler acquisition talks are off
DETROIT — General Motors is calling off talks with Cerberus Capital Management LP about a possible acquisition of Chrysler LLC.
GM CEO Rick Wagoner, without naming Chrysler specifically, confirmed the end of the negotiations during a conference call with journalists today.
“We have recently explored the possibility of such an acquisition based on the analysis that it would strengthen our industry position in the long term,” Wagoner said.
“We’ve concluded at this particular time that we are better off to put 100 percent of our efforts on the liquidity side. We’ve set aside such (acquisition) actions as a near term priority.”
