Daimler-Benz set to buy Chrysler Deal would yield powerful carmaker in U.S., Europe

From: The Milwaukee Journal Sentinel | Date: May 7, 1998| Author: Mark Savage of the Journal Sentinel staff, Bridge News and Bloomberg News also contributed to this report | Copyright information

Daimler-Benz AG, the German industrial goliath that makes Mercedes-Benz automobiles, will acquire Chrysler Corp. in an estimated $36 billion transaction expected to be announced as early as this morning.

The deal would mark the biggest industrial takeover in history and the biggest acquisition of any U.S. company by a foreign buyer. It would reshape the automobile industry here by uniting the third-largest American car manufacturer with Germany's renowned producer of luxury cars and...

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