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AN: Fiat shares rise on merger update

Started by News Feed , Jan 17 2012 at 09:50 am

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Posted January 17, 2012 at 09:50 am

After Chrysler/Fiat CEO Sergio Marchionne announced the merger of Chrysler and Fiat would be 50 percent complete by the end of this year, the company's stock rose 7.04 percent, regaining the four-euro level last seen in December. In addition, Goldman Sachs raised its outlook for Fiat SpA and Fiat Industrial to positive from neutral with a target of eight euros, saying it is looking for good things to come of the integration of the two companies. Marchionne made his predictions based on the increasing overlap of management and procurement between the two automakers.

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