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10/30/2019, 7:57 PM (Source: TeleTrader)
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Peugeot, FCA reach deal to merge - report

Peugeot manufacturer PSA Group and Fiat Chrysler Automobiles (FCA) reached an agreement to merge, The Wall Street Journal reported on Wednesday. If the deal goes through it will give birth to the world's fourth-largest automaker company worth an estimated $50 billion.

The report comes a day after the media revealed that PSA Group has engaged in all-share merger negotiations with Fiat Chrysler. Peugeot's stocks jumped over 5% on Wednesday, hours after the report went public.

Five months ago, FCA discussed a merger with Renault, Peugeot's biggest rival, but companies never came to a deal.

Breaking the News / GA