Chrysler Group LLC filed for an initial public offering. This move was forced by failure of the auto maker’s Italian majority owner and its main union to agree on the company’s value. Fiat SpA owns 58.5 percent of Chrysler, they don’t want a share sale and they are eager to own the company completely. But the United Auto Workers union health trust, holder of a 41.5 percent stake in the No.3 Detroit auto maker demands that its shares be offered to the public after negotiations to sell them to Fiat installed. In Monday’s filing, Chrysler warned that if Fiat can’t get control, the Italian auto maker could turn its back on them, unwinding a deal that was a centerpiece of the Obama administration’s 2009 auto industry rescue.

What's the significance and impact?

I said significance is that Chrysler and Fiat might be coming apart now that Chrysler has filed for an initial public offering.. I don't get the impact though.. is it that they could lose the deal that was a centerpiece?

The significance to me, is that all is still fair in love and war.

The Health (Union group) wants more than FIAT has offered for its shares. FIAT is threatening them Fiat will break the bonds with Chrysler, if Fiat does not get its way and price. Chrysler Union is demonstrating it wants more, and is willing to leave the cozy nest to get it.

Fiat is indeed threatening divorce unless they get the shares at their price, and The Unions say we can get a better deal on the market.