FCA: PSA deal clears another hurdle; shares up
(CercleFinance.com) - FCA shares rose for a second day running on Tuesday, after its shareholders approved plans to merge with France's PSA.
The owner of the Jeep and Fiat brands received an overwhelming backing for the deal, with more than 99% of votes cast, according to results disclosed after its shareholder meeting in London yesterday.
Following Monday's approval, FCA and PSA expect to complete their merger on 16 January, with Stellantis' common shares set to begin trading in Milan and Paris on Monday 18 January, and on the New York Stock Exchange on Tuesday 19 January.
Up 0.8% today, the FCA stock has risen by over 65% over the past six months, a rally triggered by this vital merger, in a context where traditional auto use is increasingly being called into question.
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