Federal antitrust regulators have cleared Cerberus Capital Management's $7 billion purchase of Chrysler, people close to the deal said.

According to two people who spoke on condition of anonymity because they were not authorized to speak publicly on the matter The Federal Trade Commission made its decision before the end of a standard 30-day review, what usually signifies there will be no conditions placed on the deal. The commission refused to comment.

Private-equity firm Cerberus agreed a month ago to pay DaimlerChrysler AG $7.4 billion for 80.1 percent of its U.S. automotive operations, which were bought by Daimler for $36 billion in 1998. The deal is expected to close in the third quarter, informs Associated Press.

Shares of DaimlerChrysler rose 2 cents to $92.17 in late morning trading Tuesday, June 18.


Publication date: 20 June 2007   

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