US Supreme Court Approves Chrysler - Fiat Deal

The United States Supreme Court approved the sale of Chrysler's assets to Fiat, giving the green light to what seemed to be a dead-end situation despite the numerous praises the two companies have drawn. In a statement rolled out today, Chrysler announced that the deal is expected to close very shortly, but didn't provide a clear deadline on the matter.

Just as we told you yesterday, the deal was initially delayed, with the sale "staying pending further order", as Justice Ruth Bader Ginsburg ruled.

"We understand this to be an administrative extension designed to allow sufficient time for the court to make a determination on the merits of the request for a stay," an administration official was quoted as saying by Reuters.

Obviously, Fiat quickly reacted to the announcement and said that it will remain stick to the initial merger plans, although some voices claimed that it mights walk out of the deal.

"Fiat will not walk away from the deal if it isn't completed by the June 15 deadline," a spokesman for the Italian company stated.

Here's the complete Chrysler statement issued today following the final ruling announced by the United States Court:

"Chrysler LLC said today the Supreme Court of the United States has lifted the stay on its transaction with
Fiat, enabling the previously announced global strategic alliance, forming a vibrant new car company, to proceed. The transaction is expected to close very shortly.

The new company will build upon Chrysler’s proud history of innovation and Fiat’s complementary technology and expertise to expand Chrysler’s product portfolio in the U.S., Canada and overseas. As the new company restarts operations in its facilities, it will continue work already underway on new environmentally friendly, fuel-efficient, high-quality vehicles that will become Chrysler's hallmark going forward."
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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