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The chairman of Fiat Chrysler Automobiles, John Elkann, confirmed that his company's CEO, Sergio Marchionne, had sent an email to his counterpart at General Motors, Mary Barra, requesting for a merger between the two automakers.
Earlier this week Automotive News reported that Marchionne approached Barra via email in March this year.
In the email, Marchionne made the case for a merger based on cost efficiencies and scale. Barra and her fellow GM executives were not convinced by his argument and rebuffed the offer.
When asked on Thursday, US time, about the veracity of the report, Marchionne replied simply that he writes “lots of emails”.
Today, though, in comments made to Reuters and other members of the press, Elkann confirmed that the Marchionne had sent an email request for a merger. He continued, “It was not the only email, it was not the only conversation”.
When reporters asked if he would support a hostile merger with another car maker, Elkann stated the he would “act with determination if there are the prerequisites to do something that makes sense”.
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