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US: GM-Fiat Chrysler merger talks dismissed

By  |  July 7, 2015

Harry Wilson, the former Obama auto task force adviser who pushed General Motors earlier this year to repurchase $5 billion of its own stock, says a deal between GM and Fiat Chrysler is not a good idea.

Asked this morning on CNBC whether a merger or acquisition between the two automakers that went through taxpayer-funded bankruptcies should happen, Wilson said, “I don’t think so.”

“I have no disrespect for Sergio Marchionne (CEO of FCA). He’s a really smart guy,” Wilson said. “It’s true that there’s a lot of misspent capital in the auto industry, but that is only part of the equation. The complexities of an auto merger are massive. Historically, they have not had very good results.”

Full content: Detroit Free Press

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