Washington - SPA
Fiat SpA said it would get full control of Chrysler Group LLC in a $4.35 billion deal, ending a standoff that had clouded the future of both companies. The deal, which helps clear the way for consolidation of the two auto makers, assumes a value for Chrysler at just over $10 billion, within the $9 billion to $12 billion valuation that banks underwriting a proposed initial public offering (IPO) had been considering. The IPO now will be called off, a person familiar with the plans said.