Created Fri 17th Apr 6am PST by

Will Chrysler and Fiat enter into any type of merger prior to June?

Settled as Yes

I think we can settle this as the question asks about 'any type of merger' and this statement by Chrysler indicates that they have reached an agreement to join forces:

Auburn Hills, Mich., Apr 30, 2009 - Chrysler LLC today announced that, as a result of the comprehensive restructuring plan agreed to by many of its stakeholders, it has reached an agreement in principle to establish a global strategic alliance with Fiat SpA to form a vibrant new company.

Details are still being worked out, but it seems that the necessary 'any type' has been reached.

Background:

Background: Do we want Chrysler to fail? That's the real question and for now it seems despite Obama administration wishes Chrysler will fail. To help Chrysler Obama asked banks recently bailed out by Obama to cease debts Chrysler owes to the banks for the time being as the company gets back on its feet. Banks have so far said no, no and no, and if something doesn't happen soon the Chrysler Fiat meger which was supposed to help the company get back on its feet is unlikley to happen by the set deadline, which would mean Chrysler will most likely die...

Washington Post Story

Settlement details:As reported by a major mainstream news source.

Forecast history %

Yes

78%

22%

Settled as Yes on Sun 31st May 5:37am PST

Activity: H$50,821
Predictions: 65
Comments: 8

Suspend date: Mon 1st Jun 11:59pm PST
Settlement date: Sun 31st May 5:37am PST

Initial likelihoods: Yes: 45%

Action history:

Created Fri 17th Apr 6am PST by

ryanj

Suspended Thu 30th Apr 8:13am PST by

kruijs [Power User]

: Flagged by super user: http://www.marketwatch.com/news/story/chrysler-finally-lands-bankruptcy/story.aspx?guid={D2AD966E-9395-4ABC-AA9A-4AD9162D4BFE}&dist=msr_1

Settlement requested Sat 2nd May 7:16pm PST by

bobdevine Level 16, Oracle (H$500,533)

: Deal is now official between Chrysler and Fiat.

http://money.cnn.com/2009/04/30/news/companies/chrysler_bankruptcy/index.htm?postversion=2009043009

Settlement requested Fri 29th May 4:09pm PST by

bobdevine Level 16, Oracle (H$500,533)

: This question should be settled as "true" because a merger agreement was reached

http://www.automoblog.net/2009/05/01/chrysler-fiat-merger/

The question said of "any type" and the merger agreement occurred before the current bankruptcy hearings.

Settled as 'Yes' Sun 31st May 5:37am PST by

bayoubear [Admin]

: I think we can settle this as the question asks about 'any type of merger' and this statement by Chrysler indicates that they have reached an agreement to join forces:

Auburn Hills, Mich., Apr 30, 2009 - Chrysler LLC today announced that, as a result of the comprehensive restructuring plan agreed to by many of its stakeholders, it has reached an agreement in principle to establish a global strategic alliance with Fiat SpA to form a vibrant new company.

Details are still being worked out, but it seems that the necessary 'any type' has been reached.

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Suspend date: Mon 1st Jun 11:59pm PST
Settlement date: Sun 31st May 5:37am PST details

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Predictions (65)

29 weeks ago

zargonddg Level 14, Prophet (H$199,451)

predicted Yes (H$430 at 78%)

29 weeks ago

zargonddg Level 14, Prophet (H$199,451)

predicted Yes (H$1,111 at 77%)

29 weeks ago

smv5047 Level 14, Prophet (H$135,101)

predicted Yes (H$10,000 at 69%)

29 weeks ago

chull

predicted Yes (H$300 at 61%)

29 weeks ago

michaelhoehne Level 5, Predictor (H$1,710)

predicted No (H$100 at 39%)

Comments (8)

coolkraft Level 14, Prophet (H$130,279)

http://www.reuters.com/article/businessNews/idUSTRE53S8F620090430?feedType=RSS&feedName=businessNews&rpc=23&sp=true

posted 29 weeks ago

faisal Level 13, Psychic (H$63,602)

Does an alliance count as a merger?

"Chrysler reborn under alliance with Fiat"

http://www.freep.com/article/20090430/BUSINESS01/904300501

posted 29 weeks ago

faisal Level 13, Psychic (H$63,602)

_A letter from Bob Nardelli to Chrysler employees_:

http://www.usatoday.com/money/autos/2009-04-30-chrysler-bob-nardelli-letter_N.htm

"This is a historic day for Chrysler. As a result of the comprehensive restructuring plan agreed to by many of our stakeholders, I am very pleased to report that Chrysler LLC and Fiat S.p.A. have reached an agreement in principle to establish a global strategic alliance."

posted 29 weeks ago

coolkraft Level 14, Prophet (H$130,279)

will it occur before June? Bankruptcy takes time

posted 29 weeks ago

faisal Level 13, Psychic (H$63,602)

Structured bankruptcy (i.e. most of the details already worked out) -- they claim 30-60 days. This market is all kinds of messy, though. Chrysler is selling some operations to a different company -- do we count that a merger? Fiat is buying a minority stake in Chrysler -- do we count that a merger? etc.

posted 29 weeks ago

pics4d Level 14, Prophet (H$101,918)

from http://news.yahoo.com/s/nm/20090430/us_nm/us_autos "At the same time, Chrysler as expected entered into an alliance with Italian automaker Fiat SpA where it sold a stake starting at 20 percent and in which Fiat can become the majority owner once the government loans are repaid"...seems it would count for this Q since it says any type of merger...altho i'm not in this Q so u can just ignore me if u want :)

posted 29 weeks ago

faisal Level 13, Psychic (H$63,602)

So then the question is whether Fiat becomes the majority owner before June 1? I flagged for some clarity on that yesterday but this happened before anything was resolved.

posted 29 weeks ago

faisal Level 13, Psychic (H$63,602)

So reading the deal more it seems that Chrysler and Fiat are forming a joint venture, and Fiat will own a minority stake in Fiat itself. This latter is not an uncommon setup for joint ventures, but isn't a merger (e.g. Fiat can presumably sell their stake in Chrysler, and possibly the JV).

posted 29 weeks ago

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