Just over one week ago, FCA executives laid out a formal offer to a “merger of equals” with French automaker Renault. Today, according to the Wall Street Journal, that offer has been abruptly rescinded after the second day of negotiations came to a close. This news comes just hours after the deal was given the blessing of the French government, and an agreement from the Italian government to invest in the merger.
There is no indication as of yet as to what may have caused the abrupt fallout, or where the two companies will go from here.
This story is developing and will be updated.
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