In an attempt to force GM's hand and make its domestic rival re-consider a previous rebuff, Fiat Chrysler Automobiles CEO Sergio Marchionne is calling on hedge funds and activist investors to try to convince GM that a merger would be in their best interests, Reuters reports.
Insiders told the Wall Street Journal that Marchionne has been emboldened by recent successes of activist investors at GM and sees them as a means to persuade Mary Barra and Co. to agree to a merger.
Back in March, GM denied a merger request by Marchionne, who insists automakers need to join forces to limit the number of players in the industry. This would help drive down operation and R&D costs while allowing them to offer vehicles that meet increasing safety and fuel economy standards.
Would these investors be enough to sway GM? Will we actually witness the birth of a gigantic American auto group? And will other companies be tempted to follow suit, as Marchionne suggested? Only time will tell.