The buyers and sellers first announced the Daimler/Chrysler deal in the middle of May.
It was a merry merry month, but wasn't a done deal -- there were a lot of particulars to arrange before it could close, especially the details of the financing. And the devil turned out to be in the details.
http://money.cnn.com/2007/07/25/news/international/chrysler/index.htm
Bankers announced last month the postponement of a multi-billion dollar syndicated loan integral to the closing. Daimler and Cerberus both said they were confident everything would go through in this, the third, fiscal quarter as planned. But some -- and I count myself among them -- suspected an element of whistling passed the graveyard there. I thought the deal might be in trouble, though I'm happy to say that I didn't go so far out on a limb as to say so, here or elsewhere.
The political climate also turned against private-equity in some quarters, and that stoked fears that either the buyer or the seller might want to cut and run from this highly visible example of the privatization of a formerly public enterprise.
Still ... captain, my captain ... you've brought the ship to port. It could close as early as today.
http://www.iht.com/articles/ap/2007/08/02/business/NA-FIN-US-Chrysler-Cerberus.php
There might be hope for the North American auto industry yet.
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