DETROIT – U.S. investors should soon be able to buy stock in Chrysler for the first time in seven years.
Italy’s Fiat and Chrysler are merging to form Fiat Chrysler Automobiles. Fiat said in a statement Friday that an ongoing tally of investors suggests there is not enough opposition to derail the deal.
Earlier this month, Fiat shareholders approved combining the companies. But Italian law gives dissenters the right to cash out. Fiat has said that if investors offered more than 500 million euros ($650 million) in shares, the merger would be off.
The combined company would move its tax headquarters to London and list its shares on the New York Stock Exchange. The merger could be completed by mid-October.
Fiat SpA will announce the final tally by Sept. 4. So far the maximum number of shares to be cashed is below the cap, the automaker said.
Shares of Chrysler haven’t been publicly traded since 2007 when it was still combined with German automaker Daimler.