Why Fiat Chrysler Automobiles Surged Over 8% on Monday

Shares of Italian-American automaker Fiat Chrysler Automobiles (NYSE: FCAU) surged on Monday after reports emerged that one or more Chinese automakers may be working to acquire the company. As of 3:30 p.m. EDT, FCA's shares were trading at $12.62, up 8.7% from its closing price on Friday.

Automotive News reported early on Monday morning that at least one Chinese automaker has made an offer for FCA, and several other Chinese automakers may have interest in purchasing all or part of the company.

A purchase of FCA would give a Chinese automaker a major manufacturing footprint in North America and facilities around the world. Image source: Fiat Chrysler Automobiles N.V.

Source: Fool.com