May 7, 1998 – Daimler-Benz purchases Chrysler Corporation

On this day in 1998 Daimler-Benz purchases Chrysler Corporation for $36 billion. This deal is the largest acquisition of a US company by a foreign buyer. The sale proved to be quite beneficial in the short term, as stock prices rose quickly on the New York Stock Exchange, but the sweetness soon turned sour. In 2006, following a $1.5 billion loss on the year, Daimler sold Chrysler to Cerberus Capital Management for a measly $7.4 billion. Photo: 1998 Chrysler Sebring

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email
Close Menu

If you enjoy This Day in Automotive History, please consider making a fast and secure PayPal donation. Thank you for visiting!