Marchionne Pushes Fiat Buyout of Chrysler to End 4-Year Pursuit
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Fiat SpA moved to tighten its control of Chrysler Group LLC as Chief Executive Officer Sergio Marchionne looks to complete a four-year effort to merge the Italian and American automakers.
Fiat exercised an option to buy an additional 3.3 percent of the Auburn Hills, Michigan-based company, it said today in statement. Fiat placed a value on the stake that’s 82 percent more than a disputed earlier tranche. That deal has been held up by a U.S. court as the union trust that owns the shares seeks a higher price.