Fiat Chrysler Automobiles won’t comment on a report claiming Hyundai Motor Group plans to launch a bid for the automaker, but that’s what sources with knowledge of the matter tell the Asia Times.
The sources claim HMG CEO Chung Mong-koo is biding his time, waiting for FCA’s stock to fall before moving forward on the potential takeover. Reportedly, Hyundai could launch the bid within months.
FCA CEO Sergio Marchionne retires in April 2019, with his successor an unknown quantity at this time. If Chung Mong-koo truly wants a takeover, he’ll act before Marchionne steps down, the sources claim.
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