IPO filing will likely happen third week of September
It seems the only way Fiat and the United Auto Workers’ retiree health care trust are going to agree on a price for the latter’s shares in Chrysler is to let the market decide, according to Fiat CEO Sergio Marchionne speaking to The London Financial Times.
Fiat, which currently holds 58.5% of the Auburn Hills automaker, is keen to gobble up the remaining shares held by the union, but the UAW is wanting to get top dollar for those shares. While Fiat does hold an option to purchase those shares outside of the public market, the two parties have yet to agree on a price for those shares.
Marchionne told the Times IPO paperwork could be filed as early as the third week of September and the offering could go public late in November. However, if the CEO has his way, the IPO will wait until after the holiday season in the new year.