/ Chrysler, Fiat, Industry, News / Chrysler merger with Fiat is on track

Chrysler merger with Fiat is on track

Linked In Share
Chrysler merger with Fiat is on track

Fiat said that its merger with Chrysler is on track after a tally of shareholders votes showed there are no derailments to the plan, a crucial step in the Italian carmaker’s turnaround strategy.

Sergio Marchionne, Fiat’s CEO, wants to merge the two auto makers into a Dutch-registered company called Fiat Chrysler Automobiles (FCA) to get on the US stock market. The listing is needed to gain funds for the ambitious five-year investment plan. The carmaker would fail or postpone the merger if needs to pay more than 500 million euros to investors who want to sell their shares, exercising a legal right activated by Fiat’s decision to move its offices away from Italy.

A statement from Fiat said that the carmaker “has determined that even if all remaining unmatched notices and unmatched confirmations were to be matched, the maximum number of shares for which cash exist rights have been validly exercised will yield and aggregate exposure that is below the cap.”

At the beginning of August, the merger between Fiat and its US subsidiary Chrysler was approved by shareholders, but dissenting investors had a right to sell their stock at the price of €7.727. Last Friday, Fiat shares were up 1.3%, surpassing the Italian benchmark share index.

By Gabriela Florea

 

by Aurel Niculescu (my Google+) - Monday, September 1st, 2014 - filed under Chrysler, Fiat, Industry, News. Image credit: .
Linked In Share
Related Articles
automakers FCA italy merger us


Discuss: Chrysler merger with Fiat is on track

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Report – Citroen adding production shift to cope with C4 Cactus demand
Report – Citroen adding production shift to cope with C4 Cactus demandIt seems that oddly designed crossovers are striking the right nerve for buyers, with our best examples being the sales success ...
Jaguar Land Rover exec predicts China’s growth could halve
Jaguar Land Rover exec predicts China’s growth could halveAccording to Jaguar Land Rover's top executive in China, the carmaker is expecting the sales growth for 2014 to be roughly halved ...
PSA Peugeot Citroen reports surprisingly strong third-quarter earnings
PSA Peugeot Citroen reports surprisingly strong third-quarter earningsThe French company, the second largest automaker in Europe, has unveiled an unexpected third-quarter revenue growth, buoyed by ...
Daimler surprisingly offloads Tesla stake
Daimler surprisingly offloads Tesla stakeThe German automaker, the parent company of the world’s third-largest premium carmaker – Mercedes-Benz – has surprised ...
US: NHTSA website crashed by motorists concerned over Takata airbag recalls
US: NHTSA website crashed by motorists concerned over Takata airbag recallsThe drivers that entered the US recall-search website of the National Highway Traffic Safety Administration were aiming to find ...
China: automakers could have problems meeting tougher fuel economy goals
China: automakers could have problems meeting tougher fuel economy goalsBeijing's ongoing battle against pollution also includes measures to align fuel economy standards in the world’s largest auto ...
Hyundai Motor shares take a dive on profit concerns
Hyundai Motor shares take a dive on profit concernsSouth Korea’s biggest carmaker, Hyundai Motor, has seen its shares in a steep dive ever since announcing a record $10 billion ...
US: Tesla gets sales ban in Michigan
US: Tesla gets sales ban in MichiganThe state, home to the three biggest US automakers, has enforced a law that banns Tesla’s direct sales practice, the fifth ...
GM to advise Pontiac, Saab owners against having front passengers
GM to advise Pontiac, Saab owners against having front passengersThe largest US automaker, General Motors, plans to rally to Toyota’s request to disallow front rides in certain car models, ...
US: Takata airbag problems mount and so does the lawsuit count
US: Takata airbag problems mount and so does the lawsuit countJapanese auto safety parts supplier Takata has become world famous for the problems created by its airbags, a piece of technology ...
Weber doubts Vettel can handle Ferrari ‘pressure’
Weber doubts Vettel can handle Ferrari ‘pressure’Oct.22 (GMM/Inautonews.com) Michael Schumacher's former manager doubts Sebastian Vettel can emulate the F1 legend's success at ...
Perez says new Force India deal ‘priority’
Perez says new Force India deal ‘priority’Oct.22 (GMM/Inautonews.com) Sergio Perez could be the next driver to secure his place on the 2015 grid. Force India made no ...
Struggling Caterham in race to send cars to Austin
Struggling Caterham in race to send cars to AustinOct.22 (GMM/Inautonews.com) Caterham's financial troubles appear to be deepening, as it emerges the struggling F1 team may have ...
Rosberg must relax to get back in fight – Frentzen
Rosberg must relax to get back in fight – FrentzenOct.21 (GMM/Inautonews.com) Nico Rosberg needs to relax if he wants to get back into the world championship fight. That is the ...
Mercedes-Benz S65 AMG gets updated by Voltage Design
Mercedes-Benz S65 AMG gets updated by Voltage DesignThe hottest version of the new-gen Mercedes-Benz S-Class, the S65 AMG, has been recently updated by the aftermarket specialists ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Mercedes-Benz S65 AMG tuning voltage design 1
2015 Porsche 911 GT3 RS 1
Spy-Shots of Cars
Spy-Shots of Cars
2015 ford f-150 customized sema motor show 1
2016 honda hr-v us spec 1
Mercedes-Benz S550 Premium Sport Edition 1
2016 audi a4 1
BMW 1-Series DTM Sport Edition 1
bugatti veyron super sport black for sale 1
Audi RS7 Piloted Driving Concept 1
nissan micra cup race car 1

More automotive from inautonews
It seems that oddly designed crossovers are striking the right nerve for buyers, with our best examples being the sales success in the US of the Jeep Cherokee and in Europe of the Citroen C4 Cactus. The latter seems to be doing so well – Europeans are also crazed about subcompact and compact ...
read more
Inautonews Editors Section
Test Drive: Mercedes-Benz A180 CDI AT
Test Drive: Mercedes-Benz A180 CDI AT The new generation of the A-Class has been around since 2012 and its overall design is quite drastic, considering its predecessor. Now, two years ...
Test Drive: Citroen C-Elysee 1.6 HDi Exclusive
Test Drive: Citroen C-Elysee 1.6 HDi Exclusive Citroen has introduced the second generation of the C-Elysee last year. The model is smaller than the C4 and it is based on the Peugeot 301, being ...
Test Drive: BMW X4 xDrive30d
Test Drive: BMW X4 xDrive30d The newest crossover to make its way into BMW’s lineup is the X4. This is based on the X3 and it is basically a smaller version of the X6, aimed ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety US: NHTSA website crashed by motorists concerned over Takata airbag recallsThe drivers that entered the US recall-search website of the National Highway Traffic Safety ... GM to advise Pontiac, Saab owners against having front passengersThe largest US automaker, General Motors, plans to rally to Toyota’s request to disallow front ...
Safety Section