Why Fiat (FIATY) Stock Is Up Today

NEW YORK (TheStreet) -- Shares of FIAT (FIATY) are up 1.18% to $9.47 after the company said it won't call a shareholders' meeting to waive or raise the 500 million euro ($668 million) limit it has set for paying out dissenters in its merger with Chrysler, Reuters reports.

CEO Sergio Marchionne wants to incorporate the two automakers into Dutch-registered Fiat Chrysler Automobiles, paving the way for a U.S. listing to help fund an ambitious investment plan at the world's number seven auto group. 

But the merger could fail, at least for now, if the carmaker was asked to pay more than 500 million euros to investors who decide to sell their shares, exercising a legal right triggered by Fiat's decision to move its registered offices away from Italy, Reuters noted.

 
 

FIATY ChartFIATY data by YCharts

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