The Fiat Chrysler-Renault merger is dead over suboptimal ‘political conditions’

TechCrunch | 6/5/2019 | Staff
Night987 (Posted by) Level 3
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A proposed merger between Fiat Chrysler -Renault that would have created the third largest global automaker, is off. Fiat Chrysler Automobiles withdrew its offer, the Wall Street Journal reported.

FCA confirmed to TechCrunch that it has withdrawn its offer, largely due to political conditions.

Benefits - Parties - Company - Statement - TechCrunch

carefully balanced to deliver substantial benefits to all parties,” according to a company statement provided to TechCrunch. “However, it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully.”

FCA delivered May 27 a non-binding letter to Renault’s board that proposed combining the business as a 50-50 merger. FCA’s proposal illustrated the growing desire among automakers to consolidate, or form partnerships,...
(Excerpt) Read more at: TechCrunch
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