Fiat CEO’s Auto-Merger Confession Called ‘Spot On’ by Investors
2015-05-26 14:06:51.965 GMT
By Tommaso Ebhardt
(Bloomberg) -- After failing to win over fellow auto
executives with his call for mergers, Fiat Chrysler CEO Sergio
Marchionne is getting his point across with some of those
companies’ owners.
* “Marchionne is spot on,” said David Herro, manager of the
$31.4b Oakmark International Fund, which owns stock in
carmakers and Fiat’s controlling shareholder Exor. “The
entire industry needs transformative M&A. We would be
strongly supportive of industry consolidation.”
* Story link NSN NOYN286JIJV1<GO>
* Yday: Fiat Chrysler Falls as M&A Prospects Hit by Report of
GM Rebuff
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To contact the reporter on this story:
Tommaso Ebhardt in Milan at +39-02-8064-4231 or
tebhardt@bloomberg.net
To contact the editors responsible for this story:
Vidya Root at +33-1-5365-5018 or
vroot@bloomberg.net
Brian Lysaght
2015-05-26 14:06:51.965 GMT
By Tommaso Ebhardt
(Bloomberg) -- After failing to win over fellow auto
executives with his call for mergers, Fiat Chrysler CEO Sergio
Marchionne is getting his point across with some of those
companies’ owners.
* “Marchionne is spot on,” said David Herro, manager of the
$31.4b Oakmark International Fund, which owns stock in
carmakers and Fiat’s controlling shareholder Exor. “The
entire industry needs transformative M&A. We would be
strongly supportive of industry consolidation.”
* Story link NSN NOYN286JIJV1<GO>
* Yday: Fiat Chrysler Falls as M&A Prospects Hit by Report of
GM Rebuff
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Tommaso Ebhardt in Milan at +39-02-8064-4231 or
tebhardt@bloomberg.net
To contact the editors responsible for this story:
Vidya Root at +33-1-5365-5018 or
vroot@bloomberg.net
Brian Lysaght