Chrysler has officially made the decision to offer public stock of its company. As long as the Securities and Exchange Commission pushes the attempt through, shares will officially go up for sale.
Like GM, Chrysler filed for Chapter 11 bankruptcy in 2009 and set up a reorganization. This was when Fiat moved in on the American company and took 20 percent of the company, giving them the controlling stake in the company. Fiat currently has 58.5% of Chrysler, and has been in a constant struggle to completely buy out the company from the United Auto Workers Retiree Medical Benefits Trust to make a full merger, but the Trust has been stingy with its shares.
This move marks the first time that Ford, General Motors, and Chrysler are all publicly traded since 2008.
[via USA Today]