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 - Copyright Ints Kalnins(Reuters)

By Reuters

Published on 04/06/2019 - 19:05•Updated 20/04/2024 - 15:16

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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.