was arrested last November on financial corruption charges, with a number of observers questioning whether that was actually the result of Nissan's desire to gain more control in the three-way partnership.
If anything, said the person closely briefed on the negotiations who spoke with CNBC, Nissan had expressed interest in the deal and the potential benefits to the Japanese automaker. In its original merger proposal, Fiat Chrysler outlined 5 billion euros in potential synergies, 1 billion of that set to accrue to Nissan and Mitsubishi.
"There was a clear, growing realization that this is not an environment in which the proposal can come together," the Fiat Chrysler source said, noting the irony that there remains "a very cordial relationship" between the two companies, and, in particular, between CEOs Manley and Senard. Renault's 66-year-old chief executive is now finding himself "in a very difficult position," said the industry veteran who has been linked to several of the carmakers.
"It's unfortunate this proposal failed so quickly," said Karl Brauer, an analyst with Kelley Blue Book, "though it's better than having it drag on for weeks or months and then fail.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Smarter than GE. But who isn't....
It's a sad moment. I really enjoyed my Renault and was hoping they'd return to the US market.
french and germans just buy french and german and hold back on global production of really anything right now... they aint buying ours they havent for years.. we dont need em we doin fine
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Latest: FCA withdraws merger offer with RenaultPARIS (AP) — The Latest on the potential merger of carmakers Renault and Fiat Chrysler (all times local): 1 a.m. Fiat Chrysler says it has withdrawn an offer to merge with French... horacioalonso16 Fiat and Renault is a merger not seen since Kmart and Sears. Why? I can pretend I have three cars if that was a the case! FIAT-CHRYSLER-RENAULT
Source: AP - 🏆 728. / 51 Read more »
Fiat Chrysler Withdraws Merger Offer for RenaultFiat Chrysler has withdrawn its proposal to merge with Renault after the French auto maker’s alliance partner, Nissan Motor, refused to back the deal. So the world’s largest manufacturer of unwanted cars ain’t gonna happen? Less than a week after they offered it? Somebody must have bought a ton of options the past days. Excellente nouvelle, Renault n’aurait jamais dû considérer une offre aussi ridicule
Source: WSJ - 🏆 98. / 63 Read more »
Fiat Chrysler withdraws proposed merger with RenaultFiat Chrysler has withdrawn its proposal to merge with French automaker Renault — a deal that would have reshaped the global auto industry and helped the carmakers compete in the race for electric and self-driving vehicles. We need electric cars! Chrysler sucks anyhow.
Source: CNN - 🏆 4. / 95 Read more »
Fiat Chrysler withdraws merger proposal for RenaultFiat Chrysler is reportedly withdrawing its merger proposal for Renault
Source: CNBC - 🏆 12. / 72 Read more »
FCA, Renault face tall odds delivering on cost-cutting promises in mergerFiat Chrysler Automobiles NV and Renault SA promise huge savings from a mega-mer... The quality of the merger depends on the operation of the quality of the borrowing and the currency of the leadership statements of the acquisition systems for the labor supply and the quality of the joining of the authorized forces The merger is about survival in a post-SUV, post $5 per gallon America. The cost-cutting promises are to placate Wall Street weirdos who can’t see past next quarter.
Source: Reuters - 🏆 2. / 97 Read more »
Exclusive: FCA discusses improved Renault merger bid to win French backingFiat Chrysler is discussing a Renault special dividend and stronger job guarante... Fusion de Renault avec Fiat Chrysler, vers une nouvelle affaire Alstom ? Macron and his clique are quick to sell out French industry Y a 2 jours c’était non négociable, à prendre ou à laisser. La réalité c’est qu’un deal est vital à la survie de FCA, tandis que Renault n’a que très peu d’intérêt à accepter la mauvaise proposition de FCA en l’état
Source: Reuters - 🏆 2. / 97 Read more »