Fiat commits to Chrysler deal despite court delay
10:38 AM Tue, Jun 09, 2009 | Permalink
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MILAN -- Italian automaker Fiat said Tuesday it will not turn its back on a deal to acquire a controlling stake in Chrysler despite a U.S. Supreme Court stay on the sale, according to The Associated Press. Under terms of the agreement, Fiat has the option to abandon the deal if it is not completed by June 15. "Fiat won't walk away from Chrysler," Fiat spokesman Gualberto Ranieri said. The U.S. Supreme Court decision on Monday to hear a challenge by three Indiana pension and construction funds could ultimately scuttle the sale. But the delay could also only be temporary. Justice Ruth Ginsburg could decide on her own to end the stay or ask the full court to decide. If Fiat were to walk away, Chrysler would have little option but to liquidate. 
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