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BREAKING NEWS

BREAKING NEWS

Activist hedge fund CIAM will 'strongly oppose' FCA-Renault deal

Activist hedge fund CIAM will 'strongly oppose' FCA-Renault deal
FILE PHOTO: People look on Renault cars during the international motor show Auto 2019 in Riga, Latvia April 13, 2019. REUTERS/Ints Kalnins -
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Ints Kalnins(Reuters)
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LONDON (Reuters) – Activist hedge fund CIAM has written to the board of French automaker Renault to say it “strongly opposed” a planned $35 billion (£27.6 billion) merger with Fiat Chrysler.

Calling the deal “opportunistic”, the fund said the current deal terms strongly favoured Fiat Chrysler and offered no control premium.

(Reporting by Simon Jessop; Editing by Rachel Armstrong)

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