U.S stocks mixed after Chrysler sale

11:40 am ET May 14, 2007

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U.S stocks mixed after Chrysler sale

NEW YORK: U.S. stocks were mixed Monday, as investors consolidated some
of the market's recent gains ahead of key inflation data on Tuesday,
offsetting news that DaimlerChrysler AG agreed to sell 80% of Chrysler
for $7.45 billion news.

Cerberus to buy 80% of Chrysler for $7.4 billion cash

LONDON: Private-equity firm Cerberus Capital Management on Monday agreed
to inject $7.4 billion into Chrysler Group in return for 80% of the
ailing automaker, a move that effectively unwinds the deal struck
between Daimler and Chrysler one decade ago.