Fiat Chrysler CEO Continues To Talk About GM Merger

Fiat Chrysler and GM Merger

Sergio Marchionne, chief executive of Fiat Chrysler Automobiles has continued to talk about his desire to merge the automaker with General Motorols.

Marchionne has never been one to shy away from his public belief that consolidation between the two manufacturers could help greatly reduce rising production costs, while offering a more streamlined company. Marchionne went so far as to propose a merger in an email to GM CEO Mary Barra.

GM turned down his request but he continues to believe it is the right move.

In a new report from industry publication Automotive News, Marchionne avoided claiming there could be a hostile takeover bid, instead hinting, “There are varying degrees of hugs.” The company’s CEO then added, “it would be unconscionable not to force a partner.”

Marchionne says the merger would create a company with $30 billion in earnings before interest, taxes, depreciation and amortization (EBITDA).

He admits that executives at General Motors are refusing to talk with him at this time.

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Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.