May 7, 1998: Stuttgart, Germany-based Daimler-Benz, the maker of the upscale Mercedes Benz, announces a $36 billion merger with Chrysler. The new company, DaimlerChrysler AG, begins trading on the Frankfurt and New York stock exchanges on Nov. 17.

Feb. 14, 2007: Battered by growing pension and retiree health costs and competition from Asian car makers, DaimlerChrysler AG announces a restructuring plan that includes cutting 13,000 Chrysler workers. The company says it won't rule out "any option," including Chrysler's sale.

May 14, 2007: DaimlerChrysler agrees to sell 80.1 percent of Chrysler to private equity firm Cerberus Capital Management LP for $7.4 billion. DaimlerChrysler keeps a 19.9 percent stake in Chrysler. It is reported that General Motors Corp. also talked with DaimlerChrysler about acquiring the company before deciding to concentrate on cost savings.

Aug. 6: Chrysler officially begins its life as a private company after Cerberus takes its majority stake. Bob Nardelli, former chief executive of The Home Depot Inc., becomes chairman and CEO.

December 2007: Nardelli tells employees that the company expects to lose $1.6 billion for the year. In November, the company had announced plans to cut up to 12,000 jobs, after employees represented by the United Auto Workers ratified a new four-year contract. The reductions represented about 15 percent of the company's work force and came on top of 13,000 job cuts announced in February.

June 10, 2008: Nardelli says Cerberus isn't second-guessing its acquisition and he expects Chrysler will be an independent company three years from now. At the time, Chrysler and other U.S. auto makers are suffering from high gas prices, a weakening economy and low consumer confidence. Later that month, Chrysler denies it plans to file for bankruptcy protection after the company exercises a $2 billion line of credit from Cerberus and Daimler.

July 25: Chrysler announces that its financial arm will get out of the auto leasing business because economic conditions have made it more expensive than buying vehicles. The move comes amid a sharp drop in resale values for leased trucks and sport utility vehicles.

Sept. 24: Daimler and Cerberus confirm that talks are under way for Daimler to sell its remaining 19.9 percent stake in Chrysler to the private equity firm. The talks come as the U.S. auto industry is reporting falling sales and billions in losses amid a dramatic market shift away from trucks and sport utility vehicles to small, fuel-efficient cars.

Cerberus has also been taking hits on its investment in GMAC, General Motors' former financial arm, which has posted huge mortgage losses.

Oct. 11: A person familiar with the talks says GM, Chrysler and Cerberus have held preliminary discussions about a merger or an acquisition of Chrysler by GM.