GM deal for Chrysler said to be coming soon - WKOW 27: Madison, WI Breaking News, Weather and Sports

GM deal for Chrysler said to be coming soon


DETROIT (AP) -- Speculation is still swirling that General Motors is close to buying Chrysler from Cerberus Capital Management.

  A person familiar with the negotiations tells The Associated Press that officials hope to reach a deal by the end of the month.

  They add talks are at the point where top executives of both companies have looked at the proposed deal and asked for refinements.

  Cerberus simply wants out of the car business.

  And as the credit markets have tightened, GM wants Chrysler's currency stockpile, to ease worries it could run too low on cash before things turn around.

  Several analysts think GM, which has been losing more than a billion dollars a month, will reach its minimum operating cash level of $14 billion sometime next year.

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