The report from earlier today was correct. Private Equity company Cerberus bought Chrysler today.
Cerberus buys Chrysler for $7.4 billion (Daimler paid 36 billion in 1996). Cerberus would acquire 80.1% of the Chrysler Group under the terms. DaimlerChrysler AG will be called Daimler AG again. Cerberus hired the former Volkswagen executive Wolfgang Bernhard as adviser one the deal. Bernhard was already involved in turning Chrysler around early 2000.