Saab is still alive...barely.
Nelson D. Schwartz of The New York Times reports:
Spyker Cars, the tiny Dutch automaker that is seeking to buy Saab from General Motors, extended its offer Monday for the beleaguered Swedish company, keeping alive hopes that Saab will survive despite G.M.’s threat to shut it down.
G.M. rejected Spyker’s first offer for Saab on Friday, but Spyker returned Sunday with a new proposal that had been set to expire at 5 p.m. Monday. Two hours before the offer was set to expire, however, Spyker said it was still in effect.
Like Opel and Saturn before it, Saab is proving very difficult for G.M. to unload, and the Swedish icon may soon disappear.
Nelson D. Schwartz of The New York Times reports:
Unable to find a buyer for Saab after a year-long search, General Motors said Friday that it would begin shutting down operations at the Swedish carmaker.
G.M. had been in final sales negotiations with a Dutch maker of high-end sports cars, Spyker Cars, but issues arose during the due diligence process that made the sale impossible before G.M.’s Jan. 1 deadline, the company said in a statement.
“Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time,” the president of G.M. Europe, Nick Reilly, said.
