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NewsBreak: Fiat Chrysler Shares Jump on Merger Talks With Peugeot

Stock Markets Oct 29, 2019 02:47PM ET
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Investing.com – Fiat Chrysler Automobiles (NYSE:FCAU) shares jumped as much as 8.8% Tuesday afternoon after The Wall Street Journal said the company is in talks for a possible merger with French automaker Peugeot (PA:PEUP).

  • Shares were up 7.6% at 2:45 PM ET (18:45 GMT).
    • There is no deal yet as the two sides are trying to figure out the terms. One option is for an all-share deal. It's also not clear how the Trump Administration would view such a merger.

  • A deal between the two would create a company with sales of as much as $50 billion a year, the Journal said. It learned of the talks from multiple sources familiar with the negotiations.
  • Fiat Chrysler had offered this past spring to merge with Renault (PA:RENA), Peugeot's French rival. But it pulled the offer in June, saying "political conditions in France do not currently exist for such a combination to proceed successfully.” The French government is Renault's biggest shareholder. And it has an ongoing partnership with Japanese auto giant Nissan (OTC:NSANY).
  • NewsBreak: Fiat Chrysler Shares Jump on Merger Talks With Peugeot
     

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