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On May 27, Fiat Chrysler Automobiles (FCA) presented a full merger proposal with the French group Renault to create the world's third-largest car maker with a combined turnover of 8.7 million vehicles.
According to the proposal, FCA shareholders would own 50% of the combined group.
The Italian-American group said expect annual synergies greater than 5 billion euros.
FCA added not to expect that the merger will lead to the closure of factories.
FCA shareholders would receive a dividend of 2.5 billion euros before the transaction, or 1.60 euros per share.
According to FCA, the transaction involving all the shares valued Renault shares at 51.68 euros each, based on the closing price of FCA on 24 May, or 55.23 euros, a dividend proposed by Renault for the full exercise.
Renault shares were up 14.4% to 57.20 euros at 08:45 GMT on May 27, while shares of FCA were up 10.5% to 12.65 euros.
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