Mercedes 1998 Annual Report Download - page 15

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Soon after the May 7 press conference in London
had drawn the worldwide attention to DaimlerChrysler,
the real work began: members of the executive teams
of both companies met in Auburn Hills and Stuttgart
to set plans for the merger in motion, discuss stra-
tegies and synergies and install the so-called PMI
(post-merger integration) phase. During this time,
numerous measures were taken to communicate the
company’s philosophy and make its goals known to
the public and, even more importantly, to the share-
holders and more than 440,000 employees
worldwide.
Announcement that DaimlerChrysler shares
will trade as “global stock” rather than
American Depositary Receipts (ADRs)
Merger Report published
AUGUST 6, 1998
Daimler-Benz and Chrysler management
teams meet in Greenbrier, West Virginia, to
prepare the merger
AUGUST 27/28, 1998
Chrysler shareholders approve merger with
97.5 % approval. Daimler-Benz shareholders
approve merger with 99.9 % approval
SEPTEMBER 18, 1998
Daimler-Benz receives 98 % of stock in
exchange offer
NOVEMBER 9, 1998
Merger of Daimler-Benz
with DaimlerChrysler registered
DECEMBER 21, 1998
DayOne: DaimlerChrysler stock begins
trading on stock exchanges worldwide
under symbol DCX
NOVEMBER 17, 1998
In just 10 months, DaimlerChrysler was created.
Now the integration process is proceeding as a
global company comes into being. Most of the
major tasks arising from the integration are to be
completed by employees on both sides of the
Atlantic within two to three years. The Post-Merger
Integration Team has the task of coordinating this
process.