Fiat Chrysler said on Wednesday it was withdrawing its $35 billion merger offer for Renault, calling off what would have been a landmark deal to create the world
PARIS (Reuters) – Fiat Chrysler said on Wednesday it was withdrawing its $35 billion merger offer for Renault, calling off what would have been a landmark deal to create the world’s third-biggest automaker.
A source close to the French carmaker’s board said FCA took the decision after France sought to delay a decision on the deal.
Renault directors failed to reach a verdict on FCA’s May 27 merger proposal at a board meeting that ran late into Wednesday night, the company said.
