The CEO of Fiat Chrysler Automobiles (Fca), Sergio Marchionne, would be contacting hedge funds and activist investors in order to persuade General Motors to merge with the Italian American group. The Wall Street Journal wrote it, explaining that at least one other European producer should be included in the plan in a three-way merger hypothesis.?
In March, GM had reached an understanding with the activists, resolving a $5 billion buyback in an effort to avoid a shareholder war.
FCA sent an email to GM to propose a merger but the request was rejected, according to what was said in the press and then confirmed by FCA.
Since March of this year, Marchionne has been saying that the auto sector needs consolidation and that FCA wants to be a protagonist in this process. There Marchionne's strategy is precisely to lead investors to put pressure on GM again, thus hoping to open a window to the merger hypothesis.
