Fiat Chrysler Automobiles NV abruptly withdrew its offer to combine with Renault SA after the French carmaker’s board -- on the brink of approving the deal -- postponed a decision for a second time.
Both companies’ shares fell in early trading, with Renault tumbling as much as 8% in Paris and Fiat dropping as much as 3.8% in Milan. A deal would have created a company with a combined market value of about 35 billion euros ($39 billion).
