M&A Deal Summary

Daimler Acquires Chrysler Group

On May 7, 1998, Daimler acquired automotive company Chrysler Group for 36.0B USD

Acquisition Highlights
  • This is Daimler’s 1st transaction in the Automotive sector.
  • This is Daimler’s largest (disclosed) transaction.
  • This is Daimler’s 1st transaction in the United States.
  • This is Daimler’s 1st transaction in Michigan.
Investment Fate
  • Chrysler Group was divested to a consortium of buyers in 2007 for 7.4B USD.
  • Chrysler Group went bankrupt in 2009.
  • Chrysler Group was sold to a strategic buyer in 2009.

M&A Deal Summary
Date 1998-05-07
Target Chrysler Group
Sector Automotive
Buyer(s) Daimler
Deal Type Merger
Deal Value 36.0B USD

Target

Chrysler Group

Auburn Hills, Michigan, United States
website
Chrysler Group LLC is an American automobile manufacturer headquartered in Auburn Hills, Michigan. It is a wholly owned subsidiary of the Italian multinational Fiat S.p.A.

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Buyer(S) 1

Buyer

Daimler

Stuttgart, Germany

website

Category Company
Founded 1886
Sector Automotive
Employees289,643
Revenue 50.9B EUR (2022)
DESCRIPTION

Daimler with its businesses Mercedes-Benz Cars, Daimler Trucks, Daimler Financial Services, Mercedes-Benz Vans and Daimler Buses, is a global producer of premium passenger cars and heavy- and medium-duty trucks and buses. Daimler was founded in 1886 and is based in Stuttgart, Germany.

DEAL STATS #
Overall 1 of 8
Sector (Automotive) 1 of 2
Type (Merger) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 4
Year (1998) 1 of 2
Size (of disclosed) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-10-07 Thomas Built Buses

High Point, North Carolina, United States

Thomas Built Buses, Inc. manufactures buses for school and day care transportation, and commercial applications.

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