The majority of unions representing workers at Peugeot maker are in favor of a planned US$50 billion merger with Fiat Chrysler, PSA executives and union representatives said. However, the unions said that once the merger deal was signed, they would be seeking detailed information about the plans for the combined company.
At a PSA works council meeting, all trade union representatives on the council voted to give a favorable opinion on the merger.
“We will remain vigilant about the social impact and await a clearer and more detailed picture of the plan’s implications for plants, volume, and how much work will be given to the foundries,” said Franck Don, representative of the CFTC union.
“But the project in the form it’s been presented makes sense because the two groups complement each other, are in good financial health, and thanks to the new format will attain a critical size which is vital in the auto business today.”
The merger would help the firms pool resources to meet tough new emissions rules and investments in electric and self-driving vehicles, as well as counter a broader downturn in car markets.
Full Content: Euro News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Turkey Fines Meta $10.4 Million for Abusing Market Dominance
May 6, 2024 by
CPI
Canadian Watchdog Launches Inquiry into Lululemon’s Greenwashing Practices
May 6, 2024 by
CPI
Massachusetts Supreme Court Deliberates Ballot Redefining Gig Worker Status
May 6, 2024 by
CPI
European Commission Approves Nippon Steel’s $14.9 Billion Buyout of U.S. Steel
May 6, 2024 by
CPI
Banco Sabadell Rejects Rival BBVA Merger Proposal
May 6, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI