How the GM decision will happen (I think)

I know a lot of people are going to be waiting for the decision that’s to come from the GM board on the sale of Saab.
I know I will!
So I thought I’d give a little run down on how I believe the system is working so that we can have an idea as to what we can expect.
Bottom line – the GM decision will be announced by press release from Detroit. The time of this release is as-yet unknown.
Working backwards…..
Representatives from the Swedish government along with Jan-Ake Jonsson met with GM board members last night so that everyone concerned could have all the facts as to where Saab’s at, as well as the attitude of the Swedish government. That meeting went for about 90-120 minutes and the Swedes who spoke to the press afterwards were cautiously optimistic.
The people who weren’t reported to be there are the potential bidders for Saab, being Merbanco, BAIC, Renco and any others who haven’t been identified yet.
As with the process earlier in the year, it’s my understanding that Deutsche Bank are acting as intermediaries for GM on this issue. The bidders don’t go to Detroit and present their proposals directly, from what I understand. Instead, I believe they have to submit their proposals to DB who then present them to GM, who will then make a decision as to who they’ll talk with. I have no idea as to whether DB make any assessment about the proposals before handing them on, but I’m reasonably sure they’re at least acting as the buffer between seller and buyer.
The big question, then, is this:
Will tomorrow’s press release contain details of a new buyer, or merely a decision from GM as to whether they’ll sell/close/keep Saab?
That’s what we’ll be waiting to find out.

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