Fiat Chrysler said on Wednesday it was withdrawing its US$35 billion merger offer for Renault.[PARIS] Fiat Chrysler has withdrawn its US$35 billion offer to merge with Renault, a company spokesman confirmed on Wednesday, walking away from a deal that would have created a new automotive giant.
The withdrawal came after two days of meetings at Renault’s headquarters in Paris, in which the company’s chairman, Jean-Dominique Senard, sought to convince its board of the financial and industrial merits of a deal. Since Fiat Chrysler officially unveiled its proposal May 26, the plan has faced resistance by some Renault shareholders who argued that the Italian-American conglomerate was undervaluing a crown jewel of French industry. France’s powerful labor union at Renault objected to a deal, warning that a combined entity could lead to layoffs.
In a statement posted to its website Wednesday, Renault said it was unable to make a decision because representatives of the French government, which has a seat on the board, requested to postpone the vote.John Elkann, the Fiat Chrysler chairman, also held a whirlwind of meetings with French government officials in Paris over the weekend, promising that a deal wouldn’t lead to factory closures.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Fiat Chrysler withdraws merger offer for RenaultPARIS: Fiat Chrysler said on Wednesday (Jun 5) it was withdrawing its US$35 billion merger offer for Renault, calling off what would have been a ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Leggi di più »
Renault and Fiat Chrysler stuck over merger terms: ReportPARIS: Talks between Fiat Chrysler and Renault have hit a roadblock over the financial terms of the proposed merger between the Italian-US and ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Leggi di più »
FCA, France reach tentative agreement on Renault merger: sourcesFiat Chrysler has reached a tentative agreement with France on the terms of its proposed merger with Renault, two sources told Reuters, as the ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Leggi di più »
Nissan would review Renault ties after FCA merger: CEONissan would carry out a 'fundamental review' of its relationship with alliance partner Renault if it accepted a merger proposal from Fiat ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Leggi di più »
Fiat Chrysler withdraws merger offer for RenaultPARIS: Fiat Chrysler said on Wednesday (Jun 5) it was withdrawing its US$35 billion merger offer for Renault, calling off what would have been a ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Leggi di più »
Renault and Fiat Chrysler stuck over merger terms: ReportPARIS: Talks between Fiat Chrysler and Renault have hit a roadblock over the financial terms of the proposed merger between the Italian-US and ...
Fonte: ChannelNewsAsia - 🏆 6. / 66 Leggi di più »