Deals
Ferrari Spinoff Will Delay Marchionne's Fiat-GM Merger Plan
- Agnellis want control of Ferrari, and Fiat can use the cash
- Marchionne's a `poker player' and wants the GM `jackpot'
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While Fiat Chrysler Automobiles NV Chief Executive Officer Sergio Marchionne isn’t known for his patience, he’s likely to wait until next year before making a bid for General Motors Co. after months of talk about the potential of a deal.
The spinoff of Ferrari SpA, which is slated for early 2016, could be the catalyst for Marchionne to make an offer for the U.S. automaker. Ferrari’s separation would raise money for the debt-laden company. The move is also key for the Agnelli family, Fiat’s dominant shareholder, which is keen to keep control of the Italian supercar maker.