Fiat Chrysler (FCAU) Stock Climbs as GM Seeks Goldman Sachs Advice on Possible Merger

NEW YORK (TheStreet) -- Fiat Chrysler (FCAU) shares are up 2.04% to $15.50 in afternoon trading on Thursday following reports that GM (GM) has hired Goldman Sachs (GS) to review Fiat's proposed merger.

GM's retention of Goldman Sachs services, if true, would contradict the company's initial flat rejection of Fiat's merger advances earlier this year.

Fiat CEO Sergio Marchionne has been vocal about his belief that consolidation in the industry would be of great value to all involved, allowing companies to share capital costs and develop more efficient vehicles.

Hurdles to the deal include anti-trust regulatory issues and the risk of job losses, according to Reuters.

TheStreet has further coverage here.

FCAU Chart FCAU data by YCharts

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