The massive merger between Fiat Chrysler Automobiles and French Groupe PSA cleared one of its final regulatory hurdles in late December, and the final transaction is set to take place tomorrow, January 4, 2020. But that’s only if Frank B. Rhodes, Jr., Walter P. Chrysler’s great grandson, doesn’t get his say.
On December 24, 2020, Rhodes filed a last-minute complaint, suggesting some changes to the merger plan. And from the sound of things, he’s not happy with, well, anything.
“This alternative proposal is in my opinion superior to the planned merger and would result in the return to the United States of the Chrysler-Dodge-Jeep-Ram Brands and away from the proposed Chinese, and foreign control as proposed in the Merger,” Rhodes said in a press release.
One of Rhodes’ main complaints is with the Stellantis name, which is the title the merged group will be adopting. Instead, he wants it to be called ‘Chrysler-Dodge-Jeep-Ram Corporation’—which definitely does not take into account the purpose of the merger.
In addition, Rhodes has proposed that Stellantis retain its London European headquarters but move its main functions to the United States. That would enable existing management and employees to stick around. He really doesn’t want this American brand to become something more global.
He’s filed a complaint with both the Stellantis manager and with United States Senators to remind them that this won’t be a good thing for America.
At this point in the venture, it's not likely that we're going to see any massive overhauls to the proposed merger—especially not ones that threaten the integrity of both brands.
Article From & Read More ( Walter P. Chrysler's Great Grandson Doesn't Like The Terms Of The PSA Merger - Jalopnik )https://ift.tt/3hCe7Jg
Business
No comments:
Post a Comment