Fiat Chrysler Automobiles CEO Sergio Marchionne is reaching out to hedge funds and activist investors to help persuade General Motors Co. to agree to a merger, the Wall Street Journal reported, citing people familiar with the matter.Marchionne has been emboldened by recent successes of activist investors at GM and sees them as a means to consolidate the auto industry, the newspaper cited the people as saying.
Marchionne's contacts with activist investors, however, have not yet landed a patron, and a similar strategy could be used with at least one European carmaker, the WSJ said.
Fiat Chrysler and GM were not immediately available for comment outside regular U.S. business hours.
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