Jun 10th, 2009 - CNNMoney
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NEW YORK (CNNMoney.com) -- Chrysler and Italian automaker Fiat on Wednesday officially signed a strategic alliance brokered by the U.S. government, after the Supreme Court cleared the path for the deal late Tuesday.
Fiat will initially take a 20% stake in the company, which can go up to 35% if it reaches certain goals.
"This is a very significant day ... for the global automotive industry as a whole," said Sergio Marchionne, who was named chief executive of Chrysler on Wednesday. "From the very beginning, we have been adamant that this alliance must be a constructive and important step towards solving the problems impacting our industry."
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7:00Chrysler-Fiat a Go, BMW X6M - Autoline Daily 161
The US Supreme Court declined to hear a challenge to Chrysler's bankruptcy filing which clears the way for its alliance with Fiat. The US House of Representatives passed the cash-for-clunkers proposal. General Motors announced that Edward Whitacre, Jr ...
0:42Opponents Move to Block Chrysler-Fiat Deal
Opponents of Chrysler's sale to Fiat are asking the Supreme Court to block the deal. Three Indiana state pension and construction funds filed emergency papers at the high court early Sunday to put the sale on hold so they can pursue an appeal. (June 7)
11:05Exclusive - Fate of Chrysler-Fiat Deal - Bloomberg
Chrysler Asset Deal Delayed by US Supreme Court [MARKET CLOSE 6.8 INCLUDED] (Bloomberg News)
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