
PSA And Fiat Chrysler Poised To Announce Merger MOU
French carmaker PSA and Fiat Chrysler will on Wednesday announce a memorandum of understanding for a mega-merger to create the world’s fourth-largest auto producer, a source close to their talks said.
The MOU announcement is set to come before the Paris and Rome stock exchanges open for trading, the source added.
Earlier Tuesday another informed source said that PSA’s supervisory board had approved the deal under which shareholders in the two groups would split the capital of the merged firm on a 50/50 basis, without any plant closures.
“PSA’s supervisory board has approved the merger agreement,” the source told AFP …