ROME (AP) — The price of Fiat shares is soaring after the
Italian automaker announced it had clinched a deal to acquire the rest
of Chrysler, with no plans for a capital increase.
The share price on the Milan exchange soared 12 percent Thursday, having been up by as much as 15.8
percent earlier in the day.
Fiat
SpA trumpeted the announcement Wednesday night that it had reached an
agreement with the United Auto Workers union-controlled trust fund
holding 41.5 percent of Chrysler’s shares. Fiat already possesses the
remaining shares. Fiat says it will pay $1.75 billion (about 1.35
billion euros) in cash at hand. Another $1.9 billion (almost 1.5 billion
euros) will be paid as extraordinary dividends.
The deal is due to close by Jan. 20.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.

ROME (AP) — The price of Fiat shares is soaring after the
Italian automaker announced it had clinched a deal to acquire the rest
of Chrysler, with no plans for a capital increase.
The share price on the Milan exchange soared 12 percent Thursday, having been up by as much as 15.8
percent earlier in the day.
Fiat
SpA trumpeted the announcement Wednesday night that it had reached an
agreement with the United Auto Workers union-controlled trust fund
holding 41.5 percent of Chrysler’s shares. Fiat already possesses the
remaining shares. Fiat says it will pay $1.75 billion (about 1.35
billion euros) in cash at hand. Another $1.9 billion (almost 1.5 billion
euros) will be paid as extraordinary dividends.
The deal is due to close by Jan. 20.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.