Buyout firm close to winning Chrysler bidding: deal would rid Daimler of billions in liabilities, shift control to Cerberus

Article Abstract:

DaimlerChrysler AG is expected to sell to private equity firm Cerberus Capital Management L.P. a controlling stake in its U.S.-based Chrysler Group unit. The deal would enable Daimler to eliminate $18 bil in health care and retirement liabilities; implications for automobile industry union labor is discussed.

Acquisitions & mergers, TRANSPORTATION EQUIPMENT, Germany, Mergers, acquisitions and divestments, Company acquisition/merger, Transportation equipment industry, Daimler AG, Cerberus Capital Management L.P.

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AmEx tries to have it both ways with banks: company's alliance with MBNA and card for New York hipsters show tricky nature of business

Article Abstract:

American Express Co. has formed an alliance with MBNA Corp. to introduce credit cards that carry the names of both companies. Am-Ex will also continue to market its own cards. Rival Visa USA says it is not concerned with the new competition.

Commercial Banks, Product introduction, All Other Plastics Product Manufacturing, New Products/Services, Alliances, partnerships, Plastic Credit Cards, Banking industry, Credit cards, American Express Co., AXP, Alliances and partnerships, MBNA Corp.

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Australia's AMP may be target of takeover bid

Article Abstract:

AMP Ltd. could be the target of a minority takeover bid by two brokerage firms, Citigroup Inc. and JBWere Ltd. Both firms have expressed interest in acquiring 11% of AMP.

Australia, Citigroup Inc., C, AMP, JBWere

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