Friday, February 8, 2013

Union-run trust seeks Chrysler stock sale | Synopsis

Union-run trust seeks Chrysler stock sale

Mitt Romney Campaign Poster (unofficial) - Detroit
Mitt Romney Campaign Poster (unofficial) - Detroit by 2012Mitt2012
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Excerpt:

The United Auto Workers trust, which owns 41. 5 percent of Chrysler's shares, on Wednesday asked Chrysler to start the process for an initial public stock offering. The trust wants the company to sell 16. 6 percent of the stock owned by the trust, Chrysler said. Why U.S. auto sales are strong Chrysler reports best sales year since 2007 Chrysler to pick up 1,250 workers, make more trucks Italian carmaker Fiat SpA, which owns the remaining 58. 5 percent of Chrysler, is fighting the trust in a Delaware court over the value of Chrysler shares. Fiat has options to buy up to 16. 6 percent of the trust's shares. It has filed plans to buy 6. 6 percent and says it wants to buy the rest. Fiat and the trust got their shares after the U.S. government bailed out Chrysler in 2009.

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Company: Chrysler

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Company: Fiat SpA

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