Hyundai may be preparing takeover bid for Fiat Chrysler
Report: Hyundai may be preparing takeover bid for Fiat Chrysler
     Fiat Chrysler (NYSE:FCAU) +3.2% premarket following speculation that Hyundai (OTCPK:HYMLF) CEO Chung Mong-koo is waiting for an expected decline in FCAU shares before launching a takeover bid for the company.     
Asia Times reports the Hyundai bid would be launched sometime between this summer and prior to FCAU's annual shareholder meeting in May 2019, when Sergio Marchionne formally steps down as CEO.
According to the report, the key driver for a deal would be Elliott Management's Paul Singer, who has amassed a $1B stake in Hyundai and is a major player in Italian equities. Recommended For You