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Posts Tagged ‘fca gm merger’

FCA Likely Not Done Pursuing Mergers

Elkann believes consolidation is inevitable.

by on Apr.15, 2016

Sergio Marchionne, Fiat Chrysler chairman, and Exor Chairman John Elkan agree that mergers in the auto industry are inevitable.

This story has been updated to include comments from Ford Motor Co.

Fiat Chrysler Automobiles’ dream of initiating a sweeping merger with one of its global rivals isn’t dead.

John Elkann, chairman of Exor, the Agnelli-family investment company that controls FCA, laid out the reasons why mergers were the key to future of the auto industry.

Merger News!

Sergio Marchionne, FCA’s chief executive officer, actually proposed a merger with General Motors last year and laid out the case for consolidation in a presentation dubbed “Confession of Capital Junkie.” GM and its CEO Mary Barra rejected Marchionne’s overture for a friendly merger. (more…)

Despite Rejection Marchionne is Still Pressing GM for Partnership

“There are varying degrees of hugs,” says Fiat Chrysler CEO.

by on Aug.31, 2015

FCA Chief Sergio Marchionne has an offer he doesn't think GM can refuse - though, so far, it has.

Fiat Chrysler Automobiles CEO Sergio Marchionne isn’t one to readily take “no” for an answer, especially when it’s coming from General Motors as a rejection to his proposed partnership.

GM CEO Mary Barra and other officials have repeatedly said the Detroit giant has no interest in merging with FCA, a move Marchionne suggested would help both companies cope in an increasingly crowded and competitive global car market. But Marchionne is warning he may press ahead with an alliance whose logic, he said, is “irrefutable.”

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Saying his board is looking for ways to get a more positive response from GM, Marchionne said what he had in mind is “not hostile,” but sounded a lot like it, the FCA chief telling Automotive News, “There are varying degrees of hugs. I can hug you nicely, I can hug you tightly, I can hug you like a bear, I can really hug you.

(more…)