A PYMNTS Company

US: General Motors rejects Fiat Chryslers merger proposal

By  |  May 26, 2015

General Motors has turned down the merger proposal by Fiat Chrysler Automobiles. Fiat Chrysler had planned this mega merger in order to cut costs, per media reports. The proposed merger would have resulted in significant cost savings and led to the creation of an automotive giant.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Reportedly, General Motors’ executives were not interested in this merger proposal.

    Sergio Marchionne, the CEO of Fiat Chrysler, which is the world’s seventh-largest carmaker, was considering a merger, possibly in the U.S, to reduce the company’s weaknesses before stepping down in early 2019. Fiat Chrysler is under pressure as it has the highest debt levels in the auto industry and barely manages to break even in Europe.

     

    Full content: Automotive News

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.