According to WSJ, Fiat Chrysler Automobiles (FCAU) approached by Peugeot

  • March 25, 2019

POTENTIAL DEAL DETAILS

Stock Fiat Chrysler Automobiles N.V. Symbol FCAU
Date Announced 03/22/2019 Source Wall Street Journal
Type News Report

Peugeot maker PSA Group (PEUGFapproached Fiat Chrysler Automobiles NV (FCAU) earlier this year about combining the two car makers, according to people familiar with the matter, proposing to form a $45 billion industry behemoth that would reposition their businesses in the U.S. and Europe.

Update(s):

March 24, 2019: John Elkann, chairman of Fiat Chrysler Automobiles (FCAU) and scion of Italy’s Agnelli family, the group’s largest shareholder, is making a renewed push for a tie-up to dilute the dynasty’s hold on the Italian-US carmaker if it joins forces with a rival

May 27, 2019: Fiat Chrysler Automobiles N.V.  (FCAU) has today delivered a non-binding letter to the Board of Groupe Renault proposing a combination of their respective businesses as a 50/50 merger.

May 27, 2019:  Renault board members will meet informally for work sessions within days with a view to a decision early next week on whether to go ahead with Fiat Chrysler (FCAUmerger talks, two sources with knowledge of the matter said.

June 03, 2019: As Renault board members prepared to meet on Tuesday to consider a merger with Fiat Chrysler (FCAU), the French government was scrambling to ensure that it would have influence over a proposed tie-up that could significantly change the balance of power in the global auto industry.

June 05, 2019: Fiat Chrysler Automobiles NV (FCAU) abruptly withdrew its offer to combine with Renault SA after the French carmaker’s board — on the brink of approving the deal — postponed a decision for a second time.

June 10, 2019: Fiat Chrysler Automobiles NV (FCAU) and Renault SA are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmaker’s alliance partner Nissan Motor Co Ltd , according to several sources close to the companies.

June 22, 2019: The outcome of two meetings in Japan this week will help determine whether Fiat Chrysler Automobiles NV (FCAU) and Renault SA revive plans for their $40 billion merger.

October 29, 2019: Fiat Chrysler Automobiles NV (FCAU)  and Peugeot maker PSA Group of France are in talks over a potential combination, according to people familiar with the matter—a deal that could create a $50 billion trans-Atlantic auto giant.

October 30, 2019: Fiat Chrysler Automobiles NV (FCAU) and Peugeot maker PSA Group of France said they were in merger talks, discussions that could lead to the creation of a roughly $46 billion trans-Atlantic auto giant that would rank as the world’s fourth largest by volume.

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