Chrysler Files for IPO as Fiat Seeks Merger Deal

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Sept. 23 (Bloomberg) – Bloomberg’s Matt Miller reports on Chrysler, the carmaker controlled by Fiat, filing for an initial public offering in the U.S., complicating Sergio Marchionne’s efforts to merge the two companies. He speaks with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)

What can you tell us?

That $100 million number should tell you a little bit about the ultimate plan to take this company public.

He is the ceo of fiat and chrysler, the brand that went into bankruptcy and that was sold off in 2009. he does not want to ipo this company.

He made the filing, however, to show that he is serious about the fact that he could ipo it if he does not get a better price than what he wants.

That is the union health-care trust that owns the rest of chrysler.

He does not own.

He does not -- he needs to buy it back.

He has a standing agreement to pay $6 billion for it.

If all else fails.

What he would like to do is say it is not worth that, you know it is not worth that.

I want to give you less and if he needs to, he will hold an ipo to prove the value of the entire company.

Is this a negotiating tactic?

It is a negotiating tactic.

He told us on september 13 and he was planning to file this ipo as soon as possible.

Interestingly enough he has hired ron bloom to help them do that negotiation with the union health-care trust.

Ron lohan was the -- bloom was the car czar.

He helped get this company back on its feet.

It is interesting now that he has hired -- is hired by sergio to negotiate with this union health-care trust area he also as a banker at lazard is helping workers in detroit trying get more money from failed pensions.

Ron bloom is a busy man,

This text has been automatically generated. It may not be 100% accurate.


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