"The transaction with Cerberus is in the best interests of our UAW members, the Chrysler Group and Daimler. We are pleased that this decision has been made"

DaimlerChrysler AG will sell 80.1 per cent of its money-losing Chrysler Group to private-equity firm Cerberus Capital Management LP for US$7.4 billion, dashing a bid from Canadian auto parts titan Magna ... via Canadian Business Magazine