Chrysler Profit Up Amid Investor Concerns Over Merger With Fiat
Amid concerns that Fiat shareholders will prevent a merger of the Italian automaker with Chrysler Group, the American automaker reported that second-quarter profit was up 22 percent to $619 million. Fiat shares fell as much as 8.5 percent on Wednesday to their lowest of the year on concerns that investors who voted against the merger with Chrysler would exercise their right to sell the stock, potentially jeopardizing the tie-up. Sergio Marchionne, chief executive officer of both Fiat and Chrysler, is expected to speak to industry analysts on a conference call today.
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