Fiat Chrysler shares jumped on Tuesday to the top of Europe's STOXX 600 aft...
LONDON - Fiat Chrysler shares jumped on Tuesday to the top of Europe’s STOXX 600 after the president of Peugeot family holding company FFP told French daily Les Echos he would support a new deal and suggested Fiat Chrysler was among the options.
“With them, as with others, the planets could be aligned,” Robert Peugeot was reported as saying, asked about targets for acquisitions or mergers.Shares in the Italian-American carmaker were up 5.2 percent by 1050 GMT, while Peugeot gained 2.7 percent, helping boost Europe’s autos index which was up 2.5 percent.
FCA’s new boss Mike Manley, who took over after deal-making guru Sergio Marchionne died last year, said this month the carmaker was open to pursuing alliances and merger opportunities if they make sense and strengthen its future. “PSA is essentially an EU pure play as things stand so an acquisition of a company with a broader reach would make strategic sense,” said Evercore ISI analyst Arndt Ellinghorst.
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