EU Set to Approve Fiat Chrysler's Merger With Peugeot, a Report Says
Fiat Chrysler Automobiles (NYSE: FCAU) and French automaker Peugeot (OTC: PUGOY), often called the PSA Group, will soon win European Union approval to merge, Reuters reported on Monday, citing people close to the matter.
The merged company will be the world's fourth-largest automaker with a market capitalization of roughly $38 billion. It will take the name Stellantis, from the Latin verb stello, meaning "to brighten with stars."
FCA and Peugeot first announced their plan to merge in late 2019. The all-stock deal will unite FCA's Fiat, Jeep, Dodge, Ram, Maserati, and Alfa Romeo brands with PSA's Peugeot, Opel, DS, and Citroen. This will allow for about $6 billion per year in cost reductions due to economies of scale, the companies say.
Source Fool.com
