FCA woos potential buyers; GM not interestedby Justin King
FCA chief Sergio Marchionne is reportedly stepping up his efforts to sell the company before he steps down.
Fiat Chrysler Automobiles chief executive Sergio Marchionne has reportedly become more aggressive in searching for a buyout or merger partner.
The outspoken executive last month appeared to flirt with rivals when he dropped a not-so-subtle hint that it would be "technically feasible" to join forces with either Ford or General Motors.
Marchionne and members of the Fiat-founding Agnelli family are now said to be actively pitching the idea to GM -- the preferred suitor -- unnamed sources have told Reuters.
Other sources suggest GM is simply not interested. The claim was echoed by a GM official who claimed the company is focused on its own strategy.
The latest report suggests FCA has an estimated operating margin of just 3.4 percent, well below most other major automakers. Poor sales outside North America and high debt are cited as other potential deal breakers.
After successfully managing the merger of Fiat and Chrysler, Marchionne is reportedly attempting to usher in a new era of further consolidations between major automakers. The executive is said to be adamant that such a transition is imminent, and FCA allegedly sees an opportunity to be merged into the new global leader.
Aside from GM, Ford and Volkswagen Group have also been named as potential buyers.