Tuesday, Jun 28, 2016
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Automotive

BUSINESS BRIEF

Fiat offers $254.7M 
for more Chrysler stock

DETROIT — Italian automaker Fiat SpA has exercised a third option to buy a small amount of Chrysler Group LLC stock.

But the sale won’t go through until a judge settles a price dispute.

Fiat says it offered $254.7 million on Monday for another 3.3 percent of Chrysler’s outstanding equity. The stock is owned by a United Auto Workers trust fund that pays retiree health-care bills. Fiat owns 58.5 percent of Chrysler and wants the remaining 41.5 percent from the trust.

The Delaware Chancery Court must set the price.

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