Fiat submits proposal for merger with Renault

Fiat Chrysler (NYSE:FCAU) has delivered a non-binding letter to the Renault (OTCPK:RNLSY) board proposing a combination of their respective businesses as a 50/50 merger.

“The combined business would create the 3rd largest global OEM and sell approximately 8.7M vehicles annually,” according to a press release.

There would be no plant closures as a result of the tie-up and the deal should provide an opportunity to lead in the development of electric and autonomous vehicles

Whether Fiat Chrysler ultimately joins the Nissan-Renault-Mitsubishi alliance remains unclear.


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