Fiat Fails to Persuade Judge to Put Price on Chrysler Shares
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Fiat SpA failed to persuade a judge to set the value of some Chrysler Group LLC shares now owned by a union health-care fund, delaying a plan to combine the two companies.
Delaware Chancery Court Judge Donald Parsons rejected Fiat’s request to find that a call-option agreement covering at least 54,000 Chrysler shares valued the stock at more than $139 million. The decision clears the way for the case over the United Auto Workers retiree trust’s Chrysler holdings to go to trial. Parsons ruled in Fiat’s favor on several claims affecting the value of the shares held by the trust, known as VEBA.