GM Leaves Fiat in the Dust
The U.S. auto giant is forking over $2 billion so it won't have to buy the Italian carmaker. Now, can Fiat reverse its troubled course?
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By Gail Edmondson
General Motors (GM ) shareholders can sleep easier now that the company no longer risks being forced to buy ailing Italian carmaker Fiat Auto. On Feb. 13, GM agreed to pay $2 billion to terminate the five-year-old put option that gave the Italian industrial conglomerate Fiat Group (FIA ) the right to sell Fiat Auto to GM for a fair market price.