Chrysler IPO To Bring Shareholder Battle To A Head

wochit business
September 16, 2013 AT 2:00 PM
Chrysler plans to file documents this month that would allow its minority investor to sell shares in a stock market listing, a process that will slow Italian carmaker Fiat's plans to take full control of the U.S. automaker. An initial public offering would bring to a head the ongoing battle between Sergio Marchionne, who has led both companies since Chrysler's government-financed bankruptcy in 2009, and a healthcare trust fund affiliated with the United Auto Workers union.