Shares in Fiat Chrysler
Automobiles (FCA) rose 4% in Milan Monday on an Automotive News
report that FCA managers have met execs from Chinese automaker
Great Wall.
In its report, the US trade paper said:
"For more than two years, FCA has been FSBO -- that's For
Sale By Owner - with no serious offers.
"Not anymore.
"Representatives of a well-known Chinese automaker made at
least one offer this month to buy Fiat Chrysler Automobiles at a
small premium over its market value...The offer was rejected for
not being enough, a source said.
"Meanwhile, other sources independently identified executives
from other large Chinese automakers conducting their own due
diligence on a potential purchase of FCA, including meeting last
week with representatives of U.S. retail groups about a
potential acquisition.
"A source said FCA executives have traveled to China to meet
with Great Wall Motor.
"And Chinese delegations were seen last week at FCA's
headquarters in Auburn Hills, Michigan.
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