Spyker’s revised bid for Saab is only open for GM’s acceptance for a matter of hours now. The offer is valid until 5pm (Eastern Standard Time) on Monday December 21.
The revised bid from Merbanco and the Swedish consortium maybe open for a longer period, but a closing date for them is as yet unknown.
I’m about to hit the hay, but hopefully will be up again before Spyker’s closing time. Between now and then, it’s up to you to keep each other informed in comments here.
Let me set a few boundaries to ward off some speculation, much of which may come from the news services themselves. This is based on Djup Strupery that I’m quite confident in.
- I believe that the Convers Group are no longer part of the Spyker deal, but that their place has not been taken by Mubadela.
- The names of the Swedish consortium are unknown to the public and the group’s intention is to remain unknown unless they are successful in their bid. Speculation so far has been just that – speculation.
- Merbanco and Spyker are not working together as some have surmised.
- It’s my firm belief that GM do actually want to sell Saab.
Maud Olofsson will be holding a press conference in Trollhattan later today. GM will not be attending, apparently. As some have mentioned already in comments, I’d expect this is about a sympathetic government being proactive in managing the consequences if Saab are indeed shut down.
That’ll probably be the first bit of news.
The rest (for today, at least) will all hinge on GM. Hopefully there’s a response either way.