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Court ruling to delay Fiat's Chrysler buyout?

We've already reported on the attempts of Fiat to purchase the remaining 41.5-percent stake in Chrysler, currently owned by the United Auto Workers' VEBA healthcare trust. And while the issues still aren't resolved, Fiat has received both a bit of good news and a bit of bad news from a Delaware judge.
The good news is that the court ruled in favor on two key arguments of Fiat's, relating to what is a fair price for the Chrysler shares. The rulings essentially slash half a billion dollars off the price of the 54,000 shares owned by VEBA, according to a report from Reuters.
The bad news is that this makes the UAW an even more difficult opponent in negotiations. Its VEBA fund is meant to cover ever escalating retiree healthcare costs, so naturally, the UAW wants to get as much money as possible. Losing a big chunk of cash isn't likely to make the union more cooperative.

Fiat buying rest of Chrysler in $4.35 billion deal, IPO avoided

Chrysler will now become a wholly owned member of the Fiat family, as it's been announced that the 41.46-percent stake in the Auburn Hills, MI-based manufacturer owned by the United Auto Workers' VEBA trust fund will be sold to the Italian company. Concluding the agreement will mark the closure of a piecemeal purchase process that could have resulted in an initial public offering.
The total cost of the sale will see the VEBA healthcare trust receive $4.35 billion, $3.65 billion of which will come from Fiat. $1.75 billion of that will be cash, while an additional $1.9 billion will be part of a "special distribution." An additional $700 million will be paid over four separate installments according to reports from Automotive News Europe and USA Today, although the shares will belong to Fiat following the first payment. The deal was reportedly initially struck on Sunday (though it is just being announced today), and is being portrayed as particularly good news for Fiat and Chrysler, which have now prevented the remaining shares going to the stock market in a UAW-forced IPO.
"The unified ownership structure will now allow us to fully execute our vision of creating a global automaker that is truly unique in terms of mix of experience, perspective and know-how, a solid and open organization that will ensure all employees a challenging and rewarding environment," Fiat CEO Sergio Marchionne said in a statement.

Fiat celebrates 30 years of Panda 4x4 with Antartica edition [w/poll]

Typically, 4x4s are rather large affairs, but the Fiat Panda stands resolutely against the trend. And what's more, it's done just that for 30 years now, over the course of which Fiat has rolled out three successive generations and sold over 400,000 examples of the little off-roader that could. So to celebrate three decades of the Panda 4x4, Fiat is rolling out this special edition.
Called the Fiat Panda 4x4 Antartica, it's set to debut next week at the Frankfurt Motor Show alongside a new Black Code trim for the Freemont (known to us as the Dodge Journey) and an anniversary edition Abarth 595. Fiat has based this special edition on the Panda 4x4 Rock and upgraded it with two-tone paint, 15-inch diamond-finish alloys, orange trim, fog lights, tinted glass and special badging. Inside, it's got gray and orange upholstery, and European buyers can order it up with either the 85-horsepower 900cc TwinAir engine or the 75hp 1.3-liter diesel.
A limited run will reach European showrooms by the end of the year. But we wonder... should Fiat consider bringing the Panda Stateside to share floor space with the diminutive 500? Have your say in our informal poll below, and feel free to read through the press release, too.