The Traderszone Network

Published in TZ Latest News 23 May, 2015 by The TZ Newswire Staff

Fiat Chrysler CEO approached GM about a merger, was rebuffed: NYT

Quoting two people with knowledge of the email, the Times said it detailed how global carmakers needed to consolidate to save money and suggested a merged GM and Fiat Chrysler would cut billions of dollars in costs and create an automotive giant. Reuters first reported on April 13 that Marchionne, who leads the world’s seventh-largest carmaker, was contemplating a super merger, possibly in the United States, to plug his company’s weaknesses and cement his legacy before stepping down in early 2019.