Question

In 1998, the German auto manufacturer Daimler-Benz purchased Chrysler for $36 billion which was one of the biggest mergers of its kind back then. Both of these companies were in the automotive business. Even though they had different cultures and market focus, this merger is an example of a:___________

Answer 1

The answer is

horizontal merger.

Step-by-step explanation:

A merger is when two or more businesses join together to form a single company.

It is usually a voluntary action on the part of all companies.

It is called vertical mergers when the merger joins different businesses with the same supplier or customer base.

When mergers join similar businesses These are considered horizontal mergers.