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Author Topic: Fiat buying rest of Chrysler in $4.35 billion deal, IPO avoided Back to Topics
vinne96
Rookie Author
Augusta

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Message Posted: Jan 2, 2014 10:55:23 AM

Italian carmaker Fiat SpA struck a $4.35 billion deal to gain full control of Chrysler Group LLC, ending more than a year of tense talks that have obstructed Chief Executive Sergio Marchionne's efforts to combine the two automakers' resources.

The agreement, announced on Wednesday, cements Marchionne's reputation as the industry's consummate dealmaker about a decade after he took the helm of Fiat as a car business newcomer, analysts and bankers said.

But it remains to be seen whether a merger will be enough to cut Fiat's losses in Europe. Marchionne's plan to shore up Fiat depends on the ability to share technology, cash and dealer networks with Chrysler, the No. 3 U.S. automaker.

Visit Reuters for full article
REPLIES (newest first) Post a Reply
playtimeCLE
Champion Author Cleveland

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Message Posted: Jan 2, 2014 7:24:02 PM

That might just save both of them.
cashpile
Champion Author Columbus

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Message Posted: Jan 2, 2014 6:55:06 PM

No surprise.
Shadowwarrior
Champion Author Pennsylvania

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Message Posted: Jan 2, 2014 6:10:50 PM

bad idea
orphancarguyPE
Champion Author PEI

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Message Posted: Jan 2, 2014 3:08:41 PM

Now maybe the 'failing company for 50 years' will get its house in order.
THZebra
Champion Author Indiana

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Message Posted: Jan 2, 2014 2:46:51 PM

Great!!! And it only cost us (the American taxpayer) 12 Billion Dollars to help Chrysler get taken over by a foreign company. What a deal. Had they (and GM) went fully bankrupt they would have been able to restructure their debt and re-negotiate the union contracts. They would have still been alive.

As it turned out GM went bankrupt anyway. That's why "General Motors Corporation" had to change their name to "General Motors Company". Restructuring requires a name change because General Motors Corporation no longer exists under bankruptcy laws.

[Edited by: THZebra at 1/2/2014 2:46:59 PM EST]
el_fr
Champion Author Massachusetts

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Message Posted: Jan 2, 2014 1:57:07 PM

Good luck with this
MassGas007
Champion Author Massachusetts

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Message Posted: Jan 2, 2014 1:49:59 PM

US Autos are still not good 35-40 miles a gal WOW that suc***
LostInNY
Champion Author New York

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Message Posted: Jan 2, 2014 1:49:43 PM

Well, so much for the Big 3.....Big 2 sounds kinda dumb...
1GhettoWhipper
Champion Author Indianapolis

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Message Posted: Jan 2, 2014 1:36:01 PM

surprizely Fiat sees
the light at the end
of the tunnel.. Thanks Fiat
lokingd2
Champion Author Ottawa

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Message Posted: Jan 2, 2014 1:31:25 PM

I feel like this kind of deal is heading for the largest sinkhole ever.
Norm10
Champion Author British Columbia

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Message Posted: Jan 2, 2014 1:21:29 PM

Good luck with that!
mustardgas
Champion Author Illinois

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Message Posted: Jan 2, 2014 1:06:26 PM

Fully un-Americanized
Dr Gas
Champion Author Twin Cities

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Message Posted: Jan 2, 2014 1:05:10 PM

Sorry Chrsyler, good to have driven a few of your cars, but this is the end.
hmw10284
Champion Author California

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Message Posted: Jan 2, 2014 12:56:33 PM

A junk car manufacturer buys another junk car manufacturer.
velichita
Champion Author New Jersey

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Message Posted: Jan 2, 2014 12:48:55 PM

May be it make sense...
Amplion
Champion Author Oregon

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Message Posted: Jan 2, 2014 12:42:52 PM

Chrysler still has a few good RWD models: Challenger, Charger, 300, Ram.
gs7101
Champion Author San Antonio

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Message Posted: Jan 2, 2014 12:34:38 PM

Good luck with this new financial endeavor.
wrunner
Champion Author Virginia

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Message Posted: Jan 2, 2014 12:31:07 PM

Congratulazioni Fiat!

May you make vehicles worthy of the American consumers.

May the Force be with you, always.
getgasmoney
Champion Author Toronto

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Message Posted: Jan 2, 2014 12:25:03 PM

Seems like all NA automakers are pairing up w/ Europeans'.
reidlej
Champion Author Columbus

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Message Posted: Jan 2, 2014 12:13:45 PM

Tough news for american car makers.
ClarkSC
Champion Author South Carolina

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Message Posted: Jan 2, 2014 12:03:44 PM

Do they want GM?
peakkeller
Champion Author Colorado Springs

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Message Posted: Jan 2, 2014 12:01:15 PM

Cool
Yooperheart
Champion Author Michigan

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Message Posted: Jan 2, 2014 11:52:13 AM

Dumb Dumb da Dumb, bad idea.
humblepie
Champion Author Toledo

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Message Posted: Jan 2, 2014 11:49:54 AM

the unions and fiat will destroy each other, good riddance to both i say
conniecounsol
Champion Author Las Vegas

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Message Posted: Jan 2, 2014 11:32:24 AM

great for fiat in the american market.
gashound007
Champion Author San Jose

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Message Posted: Jan 2, 2014 11:24:40 AM

Won't be buying a Fiat or Chrysler any time soon.
traffic cop
Champion Author Boston

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Message Posted: Jan 2, 2014 11:13:15 AM

So much for saving an "American" car company. Fact is, Chrysler was GIVEN to FIAT, along with lots of our tax dollars, on the DISinformation that Fiat's allegedly stronger position could salvage Chrysler. As it turns out, it was CHRYSLER'S improving economics which has salvaged Fiat!

Romney said the automakers should go through a conventional bankruptcy procedure. He was right. This is what happens when the government interferes in the marketplace.
DLCarpernet
Champion Author Phoenix

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Message Posted: Jan 2, 2014 11:09:05 AM

We'll see if this works.
lesabreAZ
Champion Author Phoenix

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Message Posted: Jan 2, 2014 11:08:39 AM

How will this effect Dodge and Ram Trucks?????????????
mastermariner
Champion Author Texas

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Message Posted: Jan 2, 2014 10:58:53 AM

Good CEO
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