The French carmaker will have the upper hand in the daily management of the fourth-largest auto company, just behind Toyota, Volkswagen and the Renault-Nissan alliance.
Fiat Chrysler Automobiles withdrew the proposal late Wednesday, citing "political conditions in France" after the French government, Renault's biggest shareholder, asked for five more days to review the deal and obtain support from Nissan.
Fiat Chrysler will pay $311 million in penalties to the Justice Department, at least $75 million to states investigating the excess emissions and additional funds to offset excess emissions and $280 million to settle a lawsuit by owners.
The carmaker’s controlling family shareholder confirmed news reports of his death on Wednesday, without giving the cause of death or saying when he had died.
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