Fiat Chrysler and Peugeot’s owner PSA said on Thursday they would join forces through a 50-50 share swap to create the world’s fourth-largest automaker. The boards of the two groups have mandated their respective teams to finalise discussions and reach a binding memorandum of understanding in the coming weeks, the two automakers said in a joint statement. Fiat Chrysler (FCA) will pay its shareholders a 5.5 billion euro ($6.1 billion) special dividend and hand them its shares in its robot-making unit Comau, they said. …read more
Source:: Yahoo Finance
