Fiat will complete the merger with Chrysler "as it was approved" and the 500 million limit for shareholders to exercise the right of withdrawal - a ceiling which, if exceeded, will invalidate the operation - will not be touched. Lingotto assures this, denying "allegations formulated by certain press sources" according to which Fiat "could convene an extraordinary shareholders' meeting to waive or raise the limit of 500 million euros to which the merger is subject, if this limit were exceeded".
The group then “reiterates that it has no intention of either giving up this limit or raising it. Fiat intends to complete the merger as approved. If the limit were exceeded and the company decided to convene a new extraordinary general meeting, the general meeting could simply approve a new merger plan, which would lead to the setting of a new withdrawal price based, according to the applicable rules, on the most recent share price and would reduce the company's outlays".
THE KNOT
Shareholders who do not agree with the merger can exercise their right of withdrawal by August 20, or they can have their shares liquidated in cash: the established price is 7,727 euros per share. The problem is that, in order for the merger to go through, the total disbursement requested by the shareholders opposed to the merger must not exceed 500 million euros. Today, the house lets it be known that this threshold could only be raised through a further vote by the shareholders, formulated in a specially convened extraordinary meeting.
In the early afternoon in Piazza Affari, the Fiat share gained one and a half percentage points, a 7,09 euro.
