You Say 'Takeover.' I Say 'Merger of Equals.'

Article Abstract:

Kirk Kerkorian's lawsuit against Daimler-Chrysler shows the complexities and intrigues that surround corporate mergers when unanswered questions evolve into battles over financial compensation. At the time of the 1998 merger, Kerkorian, who was Chrysler's largest stockholder, was led to believe that Daimler-Benz and Chrysler Corp. would become corporate equals in the merger of automotive operations. When it became apparent to Kerkorian that Daimler chairman Jurgen E. Schrempp only wanted to make Chrysler a division of Daimler according to a 2000 Financial Times of London interview, he realized that his initial compensation under merger rules was far less than the actual acquisition that took place. He is suing Daimler for $1 billion.

Contracts & orders received, Contracts & orders let, Stockholders, Contracts, Daimler-Benz AG, Contract agreement, Testimony, Evidence, Schrempp, Jurgen E.

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A Tale of Two Troubled Turnarounds

Article Abstract:

Ford Motor and Chrysler continue their efforts to recover financially from the last few years of reduced sales, declining market share and lack of investor confidence. Ford's stock price has dropped 60% since 1999 and Chrysler's 57% in the same time period. Chrysler is also dealing with stockholder Kirk Kerkorian's lawsuit over Daimler's 1998 acquisition of Chrysler that was misrepresented as a merger. Kerkorian believes that Chrysler has to be held accountable for deceiving stockholders who were not properly compensated for Daimler's purchase of the US auto company.

Ford Motor Co., Transportation equipment industry, F

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DaimlerChrysler Settles Suit Over Terms of Merger Deal

Article Abstract:

DaimlerChrysler agreed to pay investors $300 million to settle a class action suit related to the merger of Daimler-Benz with Chrysler in 1998. The company refused, however,?to settle with stockholder Kirk Kerkorian, whose initial suit was a factor in starting the class action. Kerkorian is seeking punitive damages of between $1.5 and $2 billion.

Securities issued, listed, Company investment, Investments, Securities, DCX, Company securities

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