MILAN – The Italian automaker Fiat says it won't walk away from a deal to acquire a controlling stake in Chrysler despite a U.S. Supreme Court stay on the sale.
Fiat has the legal right to walk away from the deal if the sale is not completed by June 15. But a spokesman for Fiat said Tuesday that the automaker will stay on board despite the new delay.
The U.S. Supreme Court decision on Monday to hear a challenge by a group of dealers could 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.