The Renault/Fiat Chrysler Automobiles merger effort appears to be dead, or at least on hold.
Published 7:57 PM EDT Jun 5, 2019
"The Board of Directors was unable to take a decision due to the request expressed by the representatives of the French State to postpone the vote to a later Council," according to a Renault statement. Wednesday marked the second day of meetings for the Renault board, which released its statement early Thursday morning Paris time.
Concerns about maintaining a voice in the new entity from the French government, which owns a 15% stake in Renault, were said to be at issue, but Reuters reported Tuesday that a resolution had been reached. Tensions with Nissan had also flared, with that company's CEO, Hiroto Saikawa, saying Monday that a full FCA-Renault merger"would require a fundamental review" of the Nissan-Renault relationship.
"The problem is that a merger makes little sense without job cuts. Without cuts, the resulting company would be an inefficient, bloated hippopotamus of a company," Erik Gordon, a law professor at the University of Michigan's Ross School of Business, told the Free Press last week."As with any merger of companies, the UAW is first and foremost concerned how this will impact our members.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
FCA-Renault bid clears French hurdles as board meets: sourcesRenault directors were preparing to review Fiat Chrysler's (FCA) $35 billio...
Weiterlesen »
The Latest: FCA withdraws merger offer with RenaultPARIS (AP) — The Latest on the potential merger of carmakers Renault and Fiat Chrysler (all times local): 1 a.m. Fiat Chrysler says it has withdrawn an offer to merge with French...
Weiterlesen »
FCA, France reach tentative agreement on Renault merger: sourcesFiat Chrysler Automobiles NV has reached a tentative agreement with France on th...
Weiterlesen »
Nissan Warming to FCA-Renault Merger, But Investors So Far ChillNissan is warming to the FCA merger proposal to Renault, and important development given Nissan's stake in Renault and Renault's stake in Nissan.
Weiterlesen »
Activist hedge fund CIAM will 'strongly oppose' FCA-Renault dealActivist hedge fund CIAM has written to the board of French automaker Renault to...
Weiterlesen »
Exclusive: FCA discusses improved Renault merger bid to win French backingFiat Chrysler is discussing a Renault special dividend and stronger job guarante...
Weiterlesen »
Nissan would review Renault ties after FCA merger: CEONissan would carry out a 'fundamental review' of its relationship with...
Weiterlesen »
Nissan's technology could pay in Renault-FCA deal: sourcesNissan's advanced technologies including platforms and electric powertrains...
Weiterlesen »
Exclusive: FCA discusses improved Renault merger bid to win French backingFiat Chrysler is discussing a Renault special dividend and stronger job guarante...
Weiterlesen »
Exclusive: Nissan optimistic about FCA partnership, but wants right terms, source saysNissan Motor Co is optimistic about partnering with a combined Renault and Fiat ...
Weiterlesen »
U.S. Tariff On Mexico Hits FCA, BMW And VW Stock PricesEuropean auto makers face mounting losses if the U.S. decision to raise tariffs on Mexican exports by 5% isn’t settled soon, and their stock prices took a beating Friday with the Stoxx Europe 600 index losing almost 3.0% at 454.73.
Weiterlesen »