Full merger moves forward for car companies Fiat, Chrysler
By Mario Trujillo - 06/09/13 06:52 PM EDT
“It’s technically possible,” Fiat CEO Sergio Marchionne told reporters on Saturday, according to Bloomberg.
The Italian-owned Fiat already has a controlling share of 58 percent in Chrysler, the third largest car manufacturer in the United States. The remaining stake is held by a healthcare trust of the United Auto Workers.
A deal ahead of a public offering would allow the Italian company to recoup much of the money spent buying up the remaining stake.
The final consolidation of the two companies will not necessarily take place this year and the wrangling at this point is about price, Marchionne said.