Fiat Chrysler CEO Sergio Marchionne has canceled plans Tuesday to attend the Frankfurt International Motor Show in Germany, an indication that the company may be getting close to a contract agreement with the United Auto Workers union.
The company says Marchionne is staying in the U.S. to deal with business matters but gave no further details.
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The union said Sunday that it had picked Fiat Chrysler as its target company in the contract talks. Deals with Fiat Chrysler, Ford and General Motors expire at midnight.
Fiat Chrysler — the smallest of the three companies — is now the focus of the bargaining. Its deal could set a general pattern for contracts at GM and Ford.