GM talked merger with Ford before Chrysler-report
DETROIT, Oct 11 (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) approached Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) about a possible merger of the two biggest U.S. car companies before more recent talks with Chrysler, the New York Times reported on Saturday.
Ford was approached by GM in July, but rejected the idea and the discussions ended in September, the newspaper said in a report that cited two people with knowledge of the talks.
A Ford representative could not be reached for comment on the report.
A source briefed on the matter has said GM and Chrysler, which is about 80 percent owned by Cerberus Capital Management [CBS.UL], have had talks about combining the automakers at a time when both are struggling to cut costs and shore up cash.
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