Groupe Renualt Studying 50/50 Merger Offer by Fiat Chrysler Automobiles
Following Fiat Chrysler Automobiles's (FCA) submission of a proposal about a potential 50/50 merger between the Italian-American conglomerate and Groupe Renault, the French carmaker's Board of Directors have met to examine the offer closely.
"After careful review of the terms of FCA's friendly proposal, the Board of Directors decided to study with interest the opportunity of such a business combination, comforting Groupe Renault’s manufacturing footprint and creating additional value for the Alliance," Renault said in a statement.
"A further communication will be issued in due course to inform the market of the results of these discussions, in accordance with applicable laws and regulations," the carmaker concluded.
If the merger goes through, this will make the multi-national conglomerate the third largest global OEM behind Toyota and Volkswagen with 8.7 million in annual vehicle sales.