Union pressures Chrysler to file for IPO

Chrysler Group filed for an initial public offering in response to a demand from the United Automobile Workers health care trust, which holds a 41.5% equity stake in the company. With Chrysler profitable again and the trust needing money to pay for medical care for 115,000 retired autoworkers and their dependents, the trust asked Chrysler to register about 16% of its shares so they could be sold. If Fiat, which holds the controlling stake in Chrysler, and the trust agree on how much Fiat should pay for the trust's shares, the IPO could be canceled.

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