The merger between Fiat Chrysler FCHA.MI and French rival PSA PEUP.PA will include a loyalty share scheme to reward long-term investors in the new group and help prevent future takeover attempts, the prospectus for the planned tie-up showed.

In December, Italian-American car maker Fiat Chrysler (FCA) and PSA agreed to combine in a $38 billion all-share deal, uniting brands such as Fiat, Jeep, Dodge, Ram and Maserati with the likes of Peugeot, Opel, Citroen and DS.

The companies said in the prospectus that each may terminate the tie-up agreement if the merger were not completed by June 30, 2021 due to a failure to obtain the necessary regulatory approvals.