Fiat Chrysler push $35 billion merger offer for Renault

Fiat Chrysler

Fiat Chrysler Automobile, FCA, now has a value for its merger deal with Renault.

The Dutch carmaker has now offered about $35 billion to merge operations with Renault in a combination deal that has been dubbed a ‘merger of two equals’.

However, Renault was quoted by Reuters saying it was studying the proposal from Italian-American FCA with interest, and considered it friendly.

It appears Renault wants Nissan to be on its board and the decision would be negotiated into the merger.

In its merger announcement earlier today, FCA said proposed a combination of their respective businesses as a 50/50 merger.

The company said that the proposed combination would create a global automaker, preeminent in terms of revenue, volumes, profitability and technology, benefitting the companies’ respective shareholders and stakeholders.

FCA said the combined business would sell approximately 8.7 million vehicles annually, would be a world leader in EV technologies, premium brands, SUVs, pickup trucks and light commercial vehicles and would have a broader and more balanced global presence than either company on a standalone basis.

FCA and Renault have a combined market cap over $37 billion before the announcement.

Earlier today, the CEO of Renault told his employees that the deal could take up to a year to finalise.

FCA and Renault have a combined market cap over $37 billion before the announcement.