FCA Merger With GM Too Good to Pass Up: Marchionne
Fiat Chrysler Automobiles CEO Sergio Marchionne still believes GM should, at the very least, listen to his pitch for a possible merger.
General Motors has showed little to no interest in a possible merger and hasn’t agreed to meet with Marchionne to even discuss the matter. In a recent interview with Automotive News, Marchionne spoke openly and candidly at the possibility of a merger and its benefits, not just to FCA, but to GM as well. “We’re not talking about marginal improvement in margins,” said Marchionne. “We’re talking about cataclysmic changes in performance, just huge.”
The CEO claims he’s gone through “product by product, plant by plant, area by area,” and believes that the two companies combined would make $30 billion a year in cash.
SEE ALSO: Marchionne Tries to Merge with GM
But the problem is, GM isn’t even picking up the phone, despite Marchionne offering to sit down and show them the numbers. “You may reject the deal, but you can’t reject the discussion,” he added. “If you’re refusing to talk to me, and you have seen nothing, you either think you’re above it all, or you think the capital markets are full of schmucks that owe you something.”
[Source: Automotive News]