Fiat Chrysler withdrew a $35 billion merger offer for France's Renault, abruptly calling off what would have been a landmark deal to create the world's third-biggest automaker.

Renault directors failed to reach a verdict on FCA's May 27 merger proposal at a board meeting that ran late Wednesday, the company said. The board was "unable to take a decision due to the request expressed by the representatives of the French state to postpone the vote to a later meeting," Renault said in a statement.

Renault said it would continue to review the proposal "with interest."

Read Article

Heavy Handed French Government Steps Into FCA/Renault Deal And Promptly Blows It Up

About the Author