Tuesday, June 9, 2009

--Chrysler poised to close sale--

Source says the deal with Italy's Fiat will likely close early Wednesday.
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NEW YORK - With opponents of Chrysler's planned partnership with Italy's Fiat having exhausted their appeals, the Obama administration-backed sale could close early Wednesday — putting the automaker close to its goal of a speedy exit from bankruptcy protection.
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Late Tuesday, the Supreme Court cleared the way for the sale of the bulk of Chrysler LLC's assets to Fiat Group SpA, rejecting an appeal by a trio of Indiana pension and construction funds, consumer groups and others to block the transaction.
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The deal will likely close early Wednesday, according to a person briefed on the company's plans who declined to be named ahead of an official announcement by the automaker. Chrysler released a statement late Tuesday saying it expects the sale to close "very shortly."
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~http://www.msnbc.msn.com/id/31185911