Fiat Chrysler proposes $52.7 billion 'transformative merger' with Renault

Fiat Chrysler has proposed a €32.7 billion ($52.7 billion) merger with Renault, in a move that could reshape the global automotive landscape. Groupe Renault's board of directors will meet to discuss the proposal, which would have Renault and FCA each owning 50% of the business.