BREAKING: Fiat Chrysler says it has withdrawn an offer to merge with French automaker Renault.
Fiat Chrysler says it has withdrawn an offer to merge with French automaker Renault.
Earlier Wednesday a person briefed on the matter said FCA had reached a tentative deal with France over merger terms. The person didn’t want to be identified because the Renault board was meeting at the time. The person didn’t want to be identified because Renault’s board was still meeting late Wednesday to discuss the proposal.
The combined company would produce some 8.7 million vehicles a year, more than General Motors and trailing only Volkswagen and Toyota.France’s finance minister says Renault and Fiat Chrysler shouldn’t rush into a merger.
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