Fiat Chrysler and Peugeot Agree on Terms to Forge New Auto Giant
Fiat Chrysler and PSA of France said that they had agreed to the terms of a merger that would create the world’s fourth largest automaker.
The companies said they had signed a binding agreement formalizing the merger, announced in October. The accord brings Fiat Chrysler and PSA, the maker of Peugeot and Citroën cars, much closer to creating a carmaker bigger than General Motors. But there will remain the task of integrating the companies. The companies said that it would take another year to 15 months to close the deal.
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