+ Publish Ad FREE !
Ads stats: last 24h - 44, actual - 958, total - 108490

FCA withdraws its offer to merge with Renault

6 June 2019 - Autoblog

FCA withdraws its offer to merge with Renault

France wanted more time to persuade Nissan, so Fiat Chrysler walked

Fiat Chrysler Automobiles released a statement confirming that it has withdrawn its merger offer, saying "it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully." The full statement can be read below our original story, which continues below.

Fiat Chrysler has withdrawn its $35 billion merger offer for Renault, the Wall Street Journal and Bloomberg News reported on Wednesday.

A source said that FCA had informed Renault it had withdrawn the offer after Renault's board of directors failed to reach a decision on the merger during a meeting that ran late into the night Wednesday. Instead, the board granted the French government's request to postpone its vote. The government wanted time to persuade Renault's reticent alliance partner Nissan.

Renault's board issued a press release that said simply that it 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."

WSJ reported that Nissan's two members on Renault's board were balking, while the rest of the board favored the merger.

The French government wouldn't it back the deal unless Nissan agreed to maintain its role in the Renault-Nissan alliance, sources said. Nissan had received little advance warning of the merger proposal and was balking. Apparently the French government thought Nissan could be brought around if given more time.

"We should take our time to make sure that things are done well," French Finance Minister Bruno Le Maire told French television on Wednesday.

When the French requested a delay and Renault's board granted it, FCA withdrew.

The French state, which owns 15% of Renault, had also been seeking more influence over the merged company, firmer job guarantees and improved terms for Renault shareholders in return for blessing the $35 billion tie-up.

The merger would have created the world's third-biggest automaker with combined sales of 8.7 million vehicles per year, and was intended to cut costs as the parties develop electric and autonomous vehicles.

Read Fiat Chrysler Automobile's full statement below:

FCA withdraws merger proposal to Groupe Renault


June 5, 2019 , London - IMPORTANT NOTICE

By reading the following release, you agree to be bound by the following limitations and qualifications: This press release is for informational purposes only and is not intended to and does not constitute an offer or invitation to exchange or sell or solicitation of an offer to subscribe for or buy, or an invitation to exchange, purchase or subscribe for, any securities, any part of the business or assets described herein, or any other interests or the solicitation of any vote or approval in any jurisdiction in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. This press release should not be construed in any manner as a recommendation to any reader of this press release.

This press release is not a prospectus, product disclosure statement or other offering document for the purposes of Directive 2003/71/EC of the European Parliament and the Council of November 4th, 2003, as amended, in particular, by Directive 2010/73/EC of the European Parliament and the Council of November 24th, 2010, as amended and as implemented in each member State of the European Economic Area and under French and Dutch law.

An offer of securities in the United States pursuant to a business combination transaction will only be made, as may be required, through a prospectus which is part of an effective registration statement filed with the US Securities and Exchange Commission. You may obtain copies of all documents filed with the SEC regarding the proposed transaction, documents incorporated by reference, and FCA's SEC filings at the SEC's website at http://www.sec.gov.

The Board of Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA), meeting this evening under the Chairmanship of John Elkann, has resolved to withdraw with immediate effect its merger proposal made to Groupe Renault.

FCA remains firmly convinced of the compelling, transformational rationale of a proposal that has been widely appreciated since it was submitted, the structure and terms of which were carefully balanced to deliver substantial benefits to all parties. However it has become clear that the political conditions in France do not currently exist for such a combination to proceed successfully.

FCA expresses its sincere thanks to Groupe Renault, in particular to its Chairman and its Chief Executive Officer, and also to the Alliance partners at Nissan Motor Company and Mitsubishi Motors Corporation, for their constructive engagement on all aspects of FCA's proposal.

FCA will continue to deliver on its commitments through the implementation of its independent strategy.

News By Tags

2011 models2012 models3-d printing3D printing458 italia6-series coupeA1A2ABC Automobileabc motorsabu dhabiaccidentaccidentsaccordACIMacuraAcura NSXadidasADSUadvertisingafricaagalegaAIair pollutionairbagairbagsairbusairportAlan GanooAlbionalcotestalfaalfa romeoalgeriaalibabaAllemangeAllied MotorsAlmaalpineAlpine A110Amauryamazonamendesamphibiousandroidandroid autoAnil BachooAnse-la-Raieappappleappointmentsappsapriliaarabiaargentinaarielarnold schwarzeneggerarsenalArtashok leylandasiaastonaston martinAston Martin VantageAston Martin ZagatoauctionaudiAudi E-TronAudi Q3Audi Q7Audi Q8Audi R8Audi RS3Audi RS7auditaudit reportaustraliaAustralian Grand Prixaustriaautoauto industryauto shanghaiauto showauto-écoleautonomous carautonomus carAutopilotautopont de Decaenautopont Decaenautoroute M1aventadorawardsAxessBABagatellebahrain grand prixBAIBaiduBaie-du-CapBaie-du-TombeaubajabajajBajaj PulsarBalaclavaBambousBangkok International Motor ShowBangkok Motor ShowBangladeshBarklyBatimaraisbatmobilebatterybattlebeachbeachesBeau-BassinBeau-ChampBeau-VallonBeaux SongesBeaux-SongesbeetleBeijing Auto ShowBeijing Motor ShowBel-AirBel-Air-Rivière-SècheBel-EtangBel-Ombrebelgian grand prixBelgiumBell VillageBell-VillageBelle-MareBelle-RiveBelle-RoseBelvédèreBenellibentleyBentley BentaygaBentley Continentalbernie ecclestonebetamaxbetamax casebicyclebicyclesbikebikesbiodieselbitcoinBlackBerryBlue-BaybmwBMW 3 SeriesBMW 4 SeriesBMW 8 seriesBMW i4BMW i8BMW iXBMW ix3BMW M2BMW M3BMW M4bmw m5BMW R18BMW X2bmw x3BMW X4BMW X5BMW x6BMW x7BMW z4boatboatsboeingBogota Auto ShowBois-MarchandBois-Marchand accidentBois-PignoletBois-RougeBologna Motor ShowBon-AccueilbondBonne-Terreboschboston dynamicsBPObrabusbrakesBramsthanbrazilbrexitbribebribesbridgebridgestonebrioBrisée-VerdièreBritish Grand PrixBruniquel bridgebudgetbugattiBugatti ChironBugatti La Voiture Noirebugatti veyronbuggybuickburnoutbusbusesbuyingbydcabriocadillaccalebassescamaroCamp ChapelonCamp-ChapelonCamp-de-MasqueCamp-DiableCamp-LevieuxCanadacanadian grand prixCandosCanotCap-Malheureuxcaporal Chooluncarcar buying tipscar dealercar dealerscar firecar importcar industrycar loancar marketCar Of The Yearcar rentcar rentalcar salecar salescar servicecar sharingcar showcar theftcar washcar washingCar Wrappingcarbon fibercarburantsCarlos GhosnCarPlaycarscartingcascavelleCaudanCaudan WaterfrontCCIDCCTVCEBcelebretiescelebritiescentre de fitnessCentres De Fitnesscertificat de fitnesscertificats de fitnessCESCFMotoChamarelChamp de MarsChamp-de-MarsChebelChemin-GrenierChengdu Motor ShowcherychevroletChevrolet CamaroChevrolet ColoradoChevrolet CorvetteChicago Auto ShowchinaCHINESE GRAND PRIXChris EvanschryslerCité VallijeecitroenCitroen Berlingocitroen c3Citroen C4Citroen C5civicclassicclassic carclassic carsclassicsClémenciacode de la routecollectioncommercialcomparisoncompensationconceptconceptsConfinementConstanceconsumer reportsContract buscontraventionsconvertiblecoromandelCoronaviruscorruptioncorvetteCottagecour suprêmeCourtCourtscouvre-feuCOVID-19CPBcr-vcrashcrash testcrash testsCrève-CoeurCristiano Ronaldocroatiacrossovercrowdfundingcruise shipCubaCupraCurepipecurfewcustom bikecustom carcustomsCUVCWACyberciteCybertruckcycloneD’Epinaydaciadaihatsudaimlerdakardakar rallydartzdash camdashcamdatsunDavid Beckhamde tomasodealersdéconfinementdecongestion routiereDelhi Auto ExpodeloreandesignDetroitDetroit Auto Showdéviationdéviationsdéviations routièresdieseldiesel bandiesel scandaldieselgateDimple RaghooDIVADIYDLCdodgedodge demonDonald TrumpDPPdragdrag battledrag racedrag racingdriftdriftingdriver licensedriverless cardrivers licensedrivingdriving licensedriving schooldriving schoolsdriving testdriving tipsdronedronesdrug racedrugsdrunk drivingdsDubaiDubai Motor ShowducatiDucati ScramblerDysonearthquakeEbayebeneEbène Car ParkecoecologyeconomyÉcroignardEducationEgyptEICMAelecticelectionselectricelectric scooterelon muskemissionsEmmanuel Macronengen motor showengineenginesEOCescroquerieethanoletios livaEUEuropeeveventsexamexamens de conduiteexamsexcès de vitesseexpofacebookfailfakefake policeFast & FuriousFast And Furiousfaux coupons de parkingfaux permisfaux permis de conduirefbiFCAfeeder busfeeder busesfermetureFernando Alonsoferrariferrari 812ferrari f40Ferrari Portofinoferrari romaferryFHTAFIAfiatfiestafilmsfinancesfinefinesfinlandFireFirefightersfishersfishingfiskerfitness centerFitness certificateFlacqFlic-en-FlacfloodFloodsFlorealflying carflying taxiFond du SacFond-du-SacFootballForbachForbach accidentforce indiafordFord BroncoFord F-150ford fiestaford focusFord GTFord mustangFord Mustang Mach-EFord RangerFord Transitforest-sideformula Eformula1forza motorsportFrancefrankfurtfrankfurt motor showfraudFSCfuelfuel economy scandalfuel pricefuel stationfuel stationsfunnyfutureGaikindo Indonesia International Auto ShowGaikindo Indonesia International Motor Showgamesgare de Rose-HillGare du Nordgare VictoriagasgeargeelygenesisGeneva Auto Showgeneva motor showgerman grand prixGermanygirlsgmgodzillagolfgolf carGoodlandsgoodwoodGoodwood Festival of Speedgooglegoogle glassgoogle mapsGoProgovernmentgpsgran turismogrand baiegrand tourgrand-baieGrand-BassinGrand-BoisGrand-GaubeGrande-RivièreGrande-Rivière-Nord-Ouestgreat wallgreecegreengreen energygrnoGros-BoisGros-CaillouxGRSE accidentGTAGymkhanahackershakershamannharley davidsonharley-davidsonHatchbackhealthcarehellcatHennesseyHenriettaHermitageherohertzhighlandshistoryhit and runhitachiholdenHollandHollywoodhondaHonda AccordHonda BrioHonda Cityhonda civicHonda Civic type rhonda cr-vHonda Ehonda fitHonda Gold WingHonda HR-Vhonda jazzhonda monkeyHonda N-BoxHonda PassportHonda s2000Honda s660Honda VezelHong Konghong-konghorse racinghorsepower falsifyingHospitalhospitalshot rodhot wheelshotelhotelshoverbikehoverboardhow toHSCHuayrahummerHummer H1Hummer H2humorhungarian grand prixhurricaneHusqvarnahybridhydrogenhypercarhypercarshyundaiHyundai BayonHyundai CretaHyundai ElantraHyundai i20Hyundai i20 Nhyundai ioniqHyundai Ioniq 5Hyundai KonaHyundai NexoHyundai Santa Cruzhyundai Santa Fehyundai sonataHyundai TucsonHyundai VelosterHyundai Venuei3i40ICACiframacIIHSillegal fishingillegal racesillegal racingillegal rallyillegal taxiillegal transportIMCimportindiaIndia Auto ExpoIndian Motorcycleindian motorcyclesIndian OilindicaIndonesiaIndonesia International Motor Showindonesia motor showinfinitiInfinityinfotainmentinfrastructureinsuranceInsurance Industry Compensation FundintelinteriorinteriorsiPadiphoneiranirelandIRPisraelisuzuIsuzu D-maxIsuzu MU-Xitaliaitalian grand prixItalyjaguarJaguar Land Roverjamesjames bondJames MayJan Palach stationjapanjapaneese carsjapanese carjapanese carsJapanese Grand PrixJawajazzJDMjeepJeep CherokeeJeep CompassJeep GladiatorJeep Grand CherokeeJeep Grand WagoneerJeep Renegadejeep wranglerJeremy ClarksonjettaJin FeijobjobsJohn Deerejustin bieberkartkawasakiKawasaki Ninjakei carken blockKenyakhankiaKia CeedKia EV6Kia ForteKia NiroKia Optimakia picantoKia SorentoKia SportageKia Stingerkia TellurideKoenigseggkoreaKoshik ReesaulKTMKTM 1290 Super Duke RRKTM DukeKymcoL’AmitiéL’AventureL’EscalierLALA Auto ShowLa Brasseriela butteLa CaverneLa ChaumièreLa FloraLa GauletteLa MarieLa PrairieLa Tour KoenigLa VigieladaLallmatielamborghiniLamborghini Aventadorlamborghini diablolamborghini gallardolamborghini huracanLamborghini SiánLamborghini UruslanciaLancia Stratoslandland cruiserland roverLand Rover DefenderLand Rover DiscoveryLarsen & ToubroLaventurelawlawslazarethLDALe HochetLe MornelealleasingLebanonLeevy Frivetlegolewis hamiltonlexusLexus ISLexus NXlicenselicense platelight metrolimousinelincolnlink roadLionel MessiLockdownlondonLos Angeles Auto Showlotuslow cost carLRTluxuryluxury carluxury carsM1m2m3macondemad maxMadagascarmaha shivaratreeMahebourgmahindramaintenancemalaysiamanManhartmansorymanual transmissionmanufacturingMapoumapsMarcelin HumbertMare d’AlbertMare-aux-VacoasMare-d’Albertmarketmarketingmartinmarutimaruti suzukiMaruti SwiftMaruti Wagon RmaseratiMatt LeBlancMauricioMauritiansmauritiusMauritius Trochetiamaybachmazdamazda 3Mazda 6Mazda BT-50Mazda CX-30Mazda MiataMazda Mx-30Mazda Mx-5Mazda RX-7mazda3McLarenMcLaren 720smecedesMELmercedesMercedes AMGMercedes E63Mercedes G-ClassMercedes G63Mercedes GLEMercedes S-ClassMercedes X-classMercedes-MaybachMESmetroMetro Expressmexican grand prixmexicoMGmichael schumachermichelinMicrosoftMidlandsminimini cooperminivanMission ImpossibleMITDmitsubishiMitsubishi DelicaMitsubishi EclipseMitsubishi EvolutionMitsubishi L200mitsubishi lancerMitsubishi MirageMitsubishi OutlanderMitsubishi PajeroMitsubishi TritonMitsubishi XpandermitsubushimitsuokaMMMmobylettesMokamonacomonaco grand prixMont-ChoisyMont-RochesMontagne-BlancheMontagne-LongueMontagne-OrymontebelloMontebello accidentMontée Smontereymoose testmoparMorcellement St AndrémorganMorneMoroccomotoMoto Guzzimoto theftmoto-écoleMotoClub Racing TeammotorMotor Racing Clubmotor showMotor Vehicle LicenceMotor vehicle test centremotorcyclemotorcyclesmotorsportmotorsportsmotosportmoviemoviesMPAmpvMRAMRCMTmugenmuscle carMusicmustangmv agustamv augustaMV TrochetiaMVDAMVLNADA Auto ShowNandanee SoornackNando BodhananonasanascarNational Coast Guardnavigationnavigation systemnavigation systemsNavin RamgoolamNCAPnceNCGNDUNepalnetherlandsnew carnew york auto shownew zealandnfsNHTSANigerianikolanissanissanNissan 370ZNissan 400Znissan altimaNissan AriyaNissan FrontierNissan GT-RNissan GT-R50Nissan JukeNissan KicksNissan LeafNissan Leaf NismoNissan MaximaNissan MicraNissan navaraNissan NoteNissan NV300Nissan PathfinderNissan PatrolNissan QashqaiNissan RogueNissan SentraNissan SkylineNissan TerraNissan TitanNissan X-trailNissan ZNissan Z ProtonorwayNouvelle-FranceNTANTCNTLANürburgringoff-roadoffroadoil spillOld Moka RoadOlympic GamesOnline Renewal of Motor Vehicle LicenceopelOpel Corsapaganipagani huayraPagani ZondaPaillesPaillotePakistanPalmarPamplemoussespanasonicpapamobileParisparis motor showparkingparliamentPebble Beachpenaltiespenaltypenalty pointsPereyberepermis de conduireperoduapetit raffrayPetit-RaffrayPetite-RivièrepetrolPetrol Retailers AssociationpeugeotPeugeot 2008peugeot 205peugeot 206Peugeot 208Peugeot 3008Peugeot 308Peugeot 5008peugeot 508PhilippinesPhoenixPhœnix.PiaggopickuppickupspininfarinapirelliPitonPlace D’ArmesPlace de l’ImmigrationPlaine MagnienPlaine VertePlaine-des-PapayesPlaine-des-RochesPlaine-LauzunPlaine-MagnienPlaine-VerteplayboyPNQPointe d’EsnyPointe-aux-PimentsPointe-aux-SablespolandpolarispolcepolestarpolicePolice de l’EnvironnementpoliticspollutionpompiersPomponettepontPont ColvillePont-BlancPont-FerpontiacPope FrancispopemobilePor Louisporscheporsche 911Porsche BoxsterPorsche CayennePorsche MacanPorsche Taycanporsche vs mclarenporsheportPort LouisPort-LouisPoste-de-FlacqPoste-LafayettePoudre d’OrPoudre-d’Or-HamletPPCPPPprankPravind JugnauthpricepricespriusproguardprotestsprotonPSApublic transportpublict transportQ3qorosQuartier MilitaireQuartier-MilitaireQuatre Bornesquatre-bornesr8RaceracingrainrallyrallyeRallye Eiffelrallye illégalrallye motoramrama valaydenrangerange roverratingsRDArecallrecallsrecordrecordsred bullred bull car park driftRed CrossreduitregistrationrenaultRenault CapturRenault ClioRenault Kwidrenault meganeRenault TwingoRenault TwizyrenderingRenewal of Motor Vehicle Licencerent a carrepairreplicaRésidence VallijeerestorationretroReunionRezvaniRHTRiambelRichard DuvalRichard HammondRiche TerreRiche-MareRiche-TerreRichelieurickshawrimacRimac C_TwoRing RoadrioRipaillesRivière du RempartRiviere-des-AnguillesRivière-du-PosteRiviere-du-RempartRiviere-NoireRiyad Owarishroadroad accidentroad accidentsroad closedroad closureroad rules & regualtionsroad rules & regulationsroad safetyRoad TaxRoad Traffic (Amendment) BillRoad Traffic ActRoad Traffic Amendment ActRoad Traffic Amendment BillRoad Traffic Billroadsroads accidentsroads safetyrobberyrobotrobotsroche-boisRoche-TerreRoches-BrunesRoches-NoiresRodrigo DuterteRodriguesrolls-roycerolls-royce cullinanrolls-royce phantomromeorond-point de Beau-BassinRose BelleRose Hillrose-belleRose-HillRoshi BhadainroverRoyal EinfieldRoyal EnfieldRoyal Enfield Continental GTRoyal Enfield HimalayanRRSRSURuben RacingRue Jemmapesrue VandermeerschrumoursRussiaRussian Grand PrixrvsaabSafe Citysafetysafety ratingsafety ratingssafety testsafety testsSaint-Pierresainte croixSainte-Croixsalesamsungsamusao paulo auto showSao Paulo Motor Showsaudisaudi arabiaSCscamscandalscaniaschool busschool vanscooterscootersSea MasterseatSeat Leonsebastian vettelSebastopolsecond hand carsecond hand carssecond hand cars importsécurité routièreself driving carself-drivingself-driving carself-driving carsSEMASEMA showsemiconductorsSeoul Motor Showservice stationservice stationsShanghaishanghai motor showShehzad SooraballyshelbyShellshowsingaporeSingapore Grand Prixsir GaëtanskodaSlovakiasmartSMFsnakeSobrinho caseSodnacsoftwareSohail Sesungkursolar energySolidarity GrantSolitudesonysorezesoreze accidentSouillacsoulsound systemssouthsouth africasouth koreaSpace XspaceXspainSpanish Grand Prixspare partsspeed cameraspeed camerasspeed limitspeedboatspeedingsportSportscarspy shotssri lankassang yongSsangYongSSCSSC TuatarassuSt-HubertSt-JeanSt-Jean roadSt-JulienSt-LouisSt-Paulst-pierreStanleystar warsstartupstation-servicestations-servicestatisticsSTCste croixSte-CroixStellantisstreet racingstrikeStudentsstudysubaruSubaru BRZSubaru ImprezaSudhir SesungkursudySunshine AutosupecarssupercarssuperyachtsuprcarssurfboardsurveySUVsuzukiSuzuki BurgmanSuzuki ErtigaSuzuki HayabusaSuzuki IgnisSuzuki IntruderSuzuki JimnySuzuki S-CrossSuzuki SwiftSuzuki Swift Sportsuzuki vitaraSuzuki Wagon RSuzuki XbeeSwedenswiftSwitzerlandTATaiwantakatatamarintankTanzaniaTarisa Resorttatatata motorstaxtax fraudtaxestaxiTBStechnlogytechnolgytechnologytenderTerre RougeTerre-RougeTerre-Rouge–VerdunteslaTesla Cybertrucktesla model 3tesla model stest drivetestsThai Motor ExpoThai Motor ShowthailandThailand International Motor ExpoThe Grand TourThe ValetheftThierry Henryticket pricetipstiresTMRSUtokyoTokyo Auto Salontokyo motor showtoptop geartotalTotal Mauritiustourismtourism authoritytoyotaToyota 86Toyota AlphardToyota AvalonToyota Aygotoyota C-HRtoyota camryToyota CenturyToyota CH-Rtoyota corollaToyota FortunerToyota GR 86Toyota GR YarisToyota HiaceToyota HighlanderToyota HiluxToyota Land CruiserToyota MiraiToyota PriusToyota ProAceToyota RAV4Toyota RushToyota Siennatoyota supraToyota TacomaToyota TJ CruiserToyota TundraToyota Venzatoyota yaristoystoytatractortrafficTraffic Branchtraffic jamtrailerTranquebartransformersTransinvesttransporttransport policeTravaux routierstrendsTrianontricksTriolettriumphTrois-Boutiquestrou aux bichesTrou d’Eau DouceTrou-aux-BichesTrou-d'Eau-DouceTrou-d’Eau-DouceTrou-Fanfarontrucktruckstsunamitug of wartuningtuniningTurfTurkeytvsTyacktyresUAEuberUBIWUBSukukraineunionsUnited StatesuomuralUrban TerminalUSUSAused carused car importused carsvacanciesvaccinationVacoasVacoas-PhoenixvalettaVallée des PrêtresVallée-des-PrêtresVallee-PitotValtonvanvarma caseVeer Luchoomunvehicle inspectionVehiclesvelostervenezuelaVenusVerdunVictoria Bus StationVictoria stationVictoria Urban TerminalvideoVienna Auto ShowvietnamVillebagueVintagevintage carvintage carsVipervivo energyVivo Energy MauritiusVoitures électriquesvoitures reconditionnéesvolvolkswagenVolkswagen AmarokVolkswagen BeetleVolkswagen GolfVolkswagen ID.3Volkswagen ID.4Volkswagen MultivanVolkswagen PoloVolkswagen Tiguanvolvovwvw beetleVW Buggyvw golfVW ID.3VW JettaVW passatvw polovw t-crossWakashioWAPwaymoWeatherwheelsWolmarWootonWork Access PermitWorldXiaomiyachtyachtsyamahaYamaha MT-07yarisYogida SawmynadenzagatoZeekr
Sell Your Car