Fiat Chrysler Automobiles made a merger offer to Groupe Renault.

Fiat Chrysler Automobiles, an Italian-American multinational automobile corporation, made a merger offer to Groupe Renault, a French multinational automobile manufacturer. The combined business would be 50% owned by FCA shareholders and 50% by Groupe Renault shareholders and would be valued at approximately $35bn. The merger discussions with Fiat ended abruptly after the French government, Renault’s most powerful shareholder, sought a delay to gain the explicit consent of Nissan. Fiat blamed “political conditions in France’’ when it withdrew its proposal, and a signal from the French state that it would give up its sway over Renault would be necessary for a resumption of talks. “For sure, regrets in this type of situation are quite normal. At the moment, there is nothing. The offer has been withdrawn.” Thierry Bollore, Renault CEO.