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No merger: SM insistent

by David Zatz on

Sergio Marchionne emphatically declared that FCA was not pursuing a merger or takeover partner today.

“We are pursuing nobody,” declared the Fiat Chrysler chief executive. “I was rebuffed, and I’m going back to my green tea…we’re looking at nothing. Closing of the 2018 plan is sacred… not a damn thing can stop is from reaching it … we’re chasing no-one. Nobody wanted to dance, the music stopped.”

Earlier, Bloomberg reported that Mr. Marchionne had told reporters, in Italian, that Donald Trump might support a merger with General Motors, putting forward a larger national champion. The Detroit area has been rife with rumors that an Asian company was looking to take over FCA.

This morning, Mr. Marchionne said it was possible that the company would sell parts-maker Magneti Marelli, but that it would not split off Alfa Romeo or Maserati. He did add, this afternoon, that they would welcome tech investors with deep pockets; “Anyone who needs cars to try to move an agenda forward, an automaker is a good target.”

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