Fiat Chrysler turned down Peugeot's merger offer - report

The PSA Group reportedly approached Fiat Chrysler (FCA) about a merger as early as this year's Detroit motor show in January, only to be rebuffed by the American-Italian company. Sources have told The Wall Street Journal the offer was rejected by FCA, and talks about a possible combination have not recommenced. According to the paper's sources, senior executives at FCA kiboshed the proposal as it would it lead to the automaker being even more reliant on the European market.