Fiat Chrysler draws the merger offer to Renault

PARIS-Fiat Chrysler Automobiles NV has withdrawn its proposal to merge with Renault SA after the French car manufacturer's alliance partner, Nissan Motor Co., refused to return the deal, according to people familiar with the case.

Nissan's two representatives on Renault's board held back late Wednesday when other board members were prepared to vote for the $ 40 billion merger, the people said. The planned closures raised doubts about Nissan's commitment to preserving the alliance if the merger were to continue …