The Agnelli family has tightened its grip on Fiat by securing higher voting rights after the carmaker’s merger into Fiat Chrysler Automobiles (FCA), a statement from the Italian bourse shows.

The move by the Agnellis’ holding company, Exor, to boost its voting power at FCA to nearly 50 percent could make Fiat Chrysler less of a takeover target and reduce its options for strategic tie-ups.