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Chrysler LLC's first-lien lenders have submitted a counter-offer to the U.S. Treasury that would swap some $7 billion in debt for equity in a restructured automaker allied with Fiat SpA.
From Reuters UK
The development comes just nine days before a deadline for the No. 3 U.S. automaker to complete concessionary deal with the United Auto Workers union and creditors and to clinch a tie-up with Fiat in order to win further U.S. government aid.
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