SUGAR LAND, TX--(MARKET WIRE)--Nov 4, 2008 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- In-depth talks between General Motors Corporation (NYSE:GM - News) (Detroit, Michigan) and Chrysler LLC (Auburn Hills, Michigan) have reached an impasse and will be placed on temporary hold until after the November 4 elections, as the Bush administration has opted not to finance the merger of the two automotive giants. GM and Chrysler had been asking the Bush administration for $10 billion-$15 billion in government aid to help finance the merger; however, that aid was denied late last week. In the meantime, Cerberus Capital Management LP (New York, New York), the private equity firm that owns the majority of Chrysler, will reopen talks with other potential suitors who may be interested in acquiring the ailing automaker.

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