As an enthusiast with a interest in the future of Saab Automobile, here's a question I'd like to find out the answer to:
Who makes the decision relating to a successful bidder for control of Saab?
Saab management have been handling the hospitality, meeting interested parties at the front door, shaking hands and pouring the wine.
But how much say will they have in who gets to pull their strings in the future?
GM employed Deutche Bank to co-ordinate the mission, but then it's GM's company to sell.
So you have a Saab with a significant vested interest in the outcome, Deutsche Bank with a paid commission to achieve, and GM with an asset to sell.
Who get to make the decision and do the others get much of a say?
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I know we've got some experienced M&A types in the readership here. Perhaps you can enlighten us as to how this process works?
My guess is that Deutsche Bank appraise the applicants, weeding out those who aren't likely to even have the slightest chance. They probably do some evaluation on the actual bids once they come in.
What I'd like some assurance about is whether or not the people that really matter - Saab's management - get to have a say in who their next owners will be.
Somehow, despite how much I hope this is the car, I fear it's not.
well the final decision must be in GM hands it is their company. A link in Swedish about that GM maybe want to close Saab.
Mainly for two reseasons: The 9-5 is to good!?! Opel Insigna won award as the best car, but in testing the 9-5 have been better...
The second reason is the dislike from Fritz.
It would seem that Saab's entry into Swedish re-organization forces GM to include Saab at the decision table. On the other hand, GM has to include GM "shareholder value" into the final decision. Fiduciary responsibility to shareholders forced the Bancrofts who owned majority of the Wall Street Journal (Dow Jones) to sell to Rupert Murdoch, though Murdoch had to make public promises on preserving WSJ's editorial independence.
If GM is forced into bankruptcy before Saab deal is announced, I guess the UAW might be the decider if they own 55% of GM.
My head hurts over this.
Agree there are several parties involved who need to approve else a sale could be tough. Not the traditional players either. I hope management have a seat at the table for they get to work with the buyer after closing - I support who they want and hope the SWE government will too.
I also hope the who the buyer is won't make things more difficult for the company and the brand to recover. That would be a shame.
I would say that GM's or GME's possibility to direct the sale to a specific buyer is dimishing all the time. The only thing they can realistically do is veto a few of them as long as there is some remaining buyer that can match their bid.