Deals
Fiat and PSA Likely Face Longer EU Antitrust Probe of Merger
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Fiat Chrysler Automobiles NV and PSA Group are likely headed for a lengthier probe of their merger after failing to offer early concessions in exchange for an expedited process.
Executives don’t expect speedy approval of the deal and believe the European Commission is likely to open a so-called phase 2 investigation that would push the deadline out to October, according to people familiar with the matter. The current target to complete the merger is during the first quarter of next year.