DaimlerChrysler became the sole owner of Detroit Diesel by purchasing the outstanding 78.7 percent of the Redford, Mich., company’s stock. The European Union Commission, which gave the deal antitrust clearance, said the acquisition ensures that Detroit Diesel will continue to be the main engine supplier of the German company’s Freightliner unit.
The agreed purchase price was about $700 million. Penske Corp., a closely held transportation services company, was Detroit Diesel’s major shareholder, with 48.6 percent of the stock. DaimlerChrysler will take over Detroit Diesel’s headquarters and engine plant in Redford and its international operations.
