Chrysler and Fiat Deal Runs into Roadblock

Chrysler is all set to sell most of its assets to Fiat and wanted to complete the deal prior to this weekend. However, that’s not happening after the deal between the two companies ran into a roadblock.
A threesome of Indiana construction and pension funds will fight the deal in a court of appeals on Friday. The three funds believe that the deal between Chrysler and Fiat is unfair in favor of unsecured stakeholders over secured debtholders.
The three Indiana funds in question are the Major Moves Construction Fund, the Indiana Teacher’s Retirement Fund and the Indiana State Pension Fund.
While the three …read more