Chrysler Expected to File for IPO Soon
Sometime in the next two weeks
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.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of reason.com or Reason Foundation. We reserve the right to delete any comment and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?