Reuters Before the Bell: Fiat Chrysler and Renault pursue $35 billion merger to tackle car sector challenges

Click to View in Browser Monday, May 27, 2019 Fiat Chrysler and Renault pursue $35 billion merger to tackle car sector challenges Fiat Chrysler pitched a finely balanced merger of equals to Renault on Monday to confront the costs of far-reaching technological and regulatory changes by creating the world's third-biggest automaker. Oil rises to $69 as Mideast tension and supply cuts offset trade concerns Oil rose to about $69 a barrel on Monday, supported by Middle East tensions and OPEC-led supply cuts, though concern over the U.S.-China trade dispute and global economy capped gains. Factbox: Auto industry consolidation - mega-mergers and alliances Italian-American carmaker Fiat Chrysler on Monday proposed a merger of equals with France's Renault in a deal that could create the world's third-biggest carmaker and trigger a fresh round of industry consolidation. European stocks gain on EU election relief and auto shares surge European shares rose on Monday as investors snapped up automaker stocks following confirmation of merger talks between Fiat Chrysler and Renault, and after European parliamentary elections saw pro-Europe parties cling to a majority. Renault's board 'studying with interest' Fiat Chrysler deal terms French carmaker Renault said it was "studying with interest" the terms of the proposed merger with Fiat Chrysler (FCA). Nasdaq pulls out of Oslo Bors battle, handing Euronext victory Nasdaq withdrew its offer for Oslo Bors on Monday, giving pan-European exchange Euronext free rein to pursue its bid for the Norwegian stock market operator after a five-month battle. Failing to hire women, ECB extends supervision job deadline: sources The European Central Bank has extended a deadline for filling three top jobs at its bank supervision arm after it failed to hire any women for the roles, two sources said, illustrating the bank's long struggle to attract female talent for senior positions. Asia's billionaires develop taste for boutique wealth managers Growing demand by Asia's rich for independent advisory services and access to a wide variety of investment products is spurring the surge of boutique wealth managers more associated with the established wealth hubs of Switzerland and London. FCA, Renault deal could take more than one year to be finalised - CEO to employees It could take more than one year for Fiat Chrysler and Renault to finalize a proposed merger of the two companies, FCA group's chief executive told employees on Monday in a letter seen by Reuters. Factbox: The road to Fiat Chrysler, Renault merger talks American-Italian carmaker Fiat Chrysler has made an all share merger proposal to French rival Renault as part of a new wave of auto industry consolidation. Related Video Fiat Chrysler proposes merger with Renault Trade frustrations grow for Iowa soybean farmers Make sense of the market with highlights of valuable financial information and reports along with compelling investment insights. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2019 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook