Fiat Chrysler Automobiles NV said Monday it was proposing a merger with Renault SA, a move that is likely to shake up the global automotive industry. In a news release, the company said the combined business would be 50% owned by FCA shareholders and 50% by Groupe Renault shareholders with a “balanced governance structure.” They said the majority of the board would be independent.

Source: Wall Street Journal May 27, 2019 05:37 UTC