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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.

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

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