Fiat Chrysler Automobiles has officially proposed a merger with France's Groupe Renault. According to a brief statement by Renault Monday, FCA is seeking a "potential 50/50 merger transaction" between the two companies.
A follow-up statement, also published by Renault on Monday, confirms the receipt of the FCA's "friendly proposal," and says the company's board "decided with interest to study the possibility of such a business combination, comforting Groupe Renault's production footprint and creating additional value for The Alliance. "
Speaking of which a Bloomberg report suggests the Renault / FCA agreement seems to be ahead without input from Nissan or Mitsubishi, the other automakers are tied to the Renault Alliance. Bloomberg says Renault has agreed not to pursue a deal with Nissan, but the Japanese automaker could join the fold later.
No official decision has yet been made, but Renault only declares that "additional communication will be issued over time." We will definitely see it close by.