Activist hedge fund CIAM will ‘strongly oppose’ FCA-Renault deal

June 4, 2019

LONDON (Reuters) – Activist hedge fund CIAM has written to the board of French automaker Renault to say it “strongly opposed” a planned $35 billion merger with Fiat Chrysler.

Calling the deal “opportunistic”, the fund said the current deal terms strongly favored Fiat Chrysler and offered no control premium.

(Reporting by Simon Jessop; Editing by Rachel Armstrong)

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