1998 - Mercedes-Benz buys Chrysler for US$40 billion and forms DaimlerChrysler in the largest industrial merger in history.
Mercedes-Benz (commonly known as Mercedes) is a famous German brand of automobiles, buses, coaches, and trucks now owned by DaimlerChrysler (formerly known as Daimler-Benz). The brand originated in 1926 when the companies founded by Karl Benz and Gottlieb Daimler merged and agreed to remain together until 2000.
The Chrysler Corporation was an American automobile manufacturer that existed independently from 1925–1998. Chrysler and its subsidiaries became part of the German-American based DaimlerChrysler AG after being purchased by Daimler-Benz in 1998. Before being taken over in 1998, Chrysler Corporation traded under the "C" symbol on the NYSE. The U.S. operations are generally referred to today as the "Chrysler Group."