StaffAllpar HomeMore NewsCarsTrucksUpcomingRepairsTest drives

Fiat shareholders cashed out 60 million shares

by Bill Cawthon on

Fiat S.p.A.announced today that shareholders opposed to the merger exercised their cash exit rights for 60,002,027 shares with a total value of €463,635,662.63 ($603,117,526.21 at current exchange rate) at the €7.727 exit price. This is 7% below the €500 million cap in the merger agreement.

In accordance with Italian law, the returned shares will be offered first to those Fiat shareholders that did not take the cash exit option. The offer will open tomorrow, September 5, and close October 6.

Any shares not sold by the deadline may be offered on the open market at the exit price. Shares remaining after that will be acquired by Fiat Chrysler Automobiles, N.V. and sold when the company goes public on the New York Stock Exchange, currently scheduled for October 13.

The cash-out shareholders are getting a better return for their money than they would on the open market: as of 11:16 am, Fiat stock was selling at 7.70 euros, a 30-day high. Fiat stock nearly reached €8 per share in June and was over €9 per share in April.

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.

Ram 1500 TRX: First Drive in the Raptor Slayer

New future for minivans, big cars (updated)

Mopar Makes Towing with the Jeep Gladiator Safer

More Mopar Car
and Truck News

Some popular Allpar pages

Dodge Demon

2018 Wrangler JL

Staff details/contactsTerms of ServiceInformation is presented to the best of our knowledge. Plans change and sometimes mistakes are made. Decisions or purchases made based on this site's verbiage or images are done at the reader's own risk. Also see the Allpar News archives, 1997-2008 • Copyright © VerticalScope Inc. All rights reserved. • Mopar, Dodge, Jeep, Chrysler, HEMI, and certain other names are trademarks of Fiat Chrysler Automobiles.