Mercedes 1998 Annual Report Download - page 14

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Jürgen E. Schrempp, Chairman of the Daimler-
Benz Management Board, in Detroit for North
American International Auto Show, visits
Robert J. Eaton, Chairman and Chief
Executive Officer of Chrysler Corporation, to
suggest discussion of possible merger
JANUARY 12, 1998
Merger agreement signed in London
MAY 6, 1998
Daimler-Benz Supervisory Board
agrees to merger
MAI 14, 1998
Chrysler management team visits
Stuttgart
JUNE 25, 1998
Working teams prepare possible business
combination in detail
MARCH-APRIL 1998
Merger agreement announced worldwide:
Daimler-Benz and Chrysler combine to form
the world’s leading automotive, transportation
and services company
MAY 7, 1998
Daimler-Benz management team visits
Auburn Hills
JUNE 16-18, 1998
10
THE MERGER
ON MAY 7, 1998, the news broke that Daimler-
Benz and Chrysler were about to undertake the
biggest merger in the history of the automotive
industry.
Only five months before this historic announcement,
the CEOs of Chrysler and Daimler-Benz, Bob Eaton
and Jürgen Schrempp, met on the occasion of the
North American International Auto Show in Detroit
and privately discussed a common future for
their two companies. Soon it became clear that the
company leaders were captivated by a common idea:
two strong partners with complementary product
ranges would join together and achieve significant
synergy gains even in the medium term.
The Merger
Completed within less than 200 working days