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Chrysler News: FCA Turned Down PSA Merger Offer

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The rumors that PSA and FCA may merge can be put to bed now.  Sources familiar with the discussion told the Wall Street Journal that executives from the respective companies are no longer in talks.  FCA was reticent about the idea because it would increase the companies reliance on the struggling European market, and the Agnelli family, who has a controlling stake in FCA, was not interested in a deal that was paid for with PSA stock. PSA would need to use equity to pay for FCA because they are still digesting their acquisition of Opel from General Motors

Had they merged, the combined company would produce over 9 million vehicles per year, putting them on a playing field with Volkswagen and Nissan-Renault.  It would also give PSA a much needed foothold into the U.S. market for their planned 2026 re-entry

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Right now the only way either company will survive is when they are bought out with cash that makes the legacy families money they can then walk away from. They have no real interest in making a profitable company or quality as all you have to do is look at their current financial mess.

Chinese ownership is the future for them.

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