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GM–Chrysler Merger Could Happen Within Two Weeks

Negotiators working on a merger deal between automakers General Motors (GM) and Chrysler say they hope to finalize an agreement before the presidential election on November 4th, according to a report from USA Today. The report, citing a source who has been briefed on the talks, says the companies are asking for financial assistance from the government to help seal the deal, using as leverage the potential negative impact on the U.S. economy if either company were to fail. The merged entity would control 36 percent of the U.S. auto market. Also part of the negotiations is GMAC, GM's financing arm, which is already 50 percent owned by Cerberus Capital Management, Chrysler's parent company; GM does not want to give up its stake in GMAC, while Cerberus is said to be pushing for full control in the merged company. Talks are expected to continue this week.


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