Fiat/Chrysler allowed to merge

Houston News.Net
Wednesday 10th June, 2009

The sale of American auto giant Chrysler to Italian auto company Fiat, has been passed by the US courts, despite objections from Chrysler investor groups that said the sale might put investors at risk.

Chrysler had argued that if its sale to Fiat did not go through by a June 15th deadline the deal could collapse.

The number-three US automaker said it could not survive unless Fiat contributed to keep the company afloat.

It also said it would need to close about 25 percent of its dealerships to once again make the company viable.

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