Chrysler is expected to file documents in the next two weeks outlining an initial public stock offering despite Fiat’s preference to buy 100% of Chrysler’s shares, the two companies’ CEO Sergio Marchionne has said.
The filing with the U.S. Securities and Exchange Commission will come by the end of this month, Marchionne said last week. It would resolve a protracted legal fight between Fiat, which owns 58.5% of Chrysler, and the UAW’s Retiree Medical Benefits Trust, which owns the other 41.5%.
The Italian automaker has offered to buy another 9.9%, but the trust has rejected Fiat’s offered price. Fiat sued the trust in Delaware Chancery Court, but a judge has declined to establish a price.
Source: Detroit Free Press. Read full article. (link)