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FTC Grants Early Termination to Waiting Period of Merger

31 July 1998

FTC Grants Early Termination to the Waiting Period for the Merger Of Chrysler With Daimler-Benz

    AUBURN HILLS, Mich., July 30 -- The Federal Trade Commission
(FTC) has granted "Early Termination" of the waiting period on the planned
merger between Chrysler Corporation and Daimler-Benz .
The waiting period is imposed by U.S. antitrust law, which gives regulators a
minimum 30-days to evaluate large mergers.
    The companies have now satisfied U.S. and European Union antitrust
requirements.
    "This approval is great news for both companies.  The FTC review was one
of the principal regulatory hurdles that both of us faced," said Chrysler
Chairman Robert J. Eaton.  "Our respective antitrust authorities have now
favorably considered the issues involved, allowing us to proceed with our
merger plans."
    The shareholders of Chrysler and Daimler-Benz are to decide on the planned
merger in their meetings scheduled to be held in Wilmington, Del., and
Stuttgart, Germany, respectively, on Sept. 18, 1998.  Shareholders of both
companies will receive information on the merger in August.