Fiat Close to Acquiring 100% Ownership of Chrysler

The expected closure of the deal giving Italian automaker Fiat 100-percent ownership of Chrysler may be delayed due to yesterday’s Martin Luther King, Jr. holiday. When the plan was announced on January 1st, officials said they expected to purchase the shares of the UAW Trust by January 20th. However, banks are closed today and cash transfers would be difficult. Fiat is buying the 41-point-five percent share for a reported four-point-three billion dollars.