You make the news – snippets edition

There’s plenty floating around on the news wires right now. The deadline for bids to be submitted is at 5pm Detroit time today (Thursday).
An announcement is not expected straight away. It may come tomorrow, or it may take a few days longer.
If there’s anything big announced overnight, please keep each other updated.
Of course, we know this already, but Spyker are preparing their final bid.
Auto Motor and Sport report that they are working on a bid that GM will not be able to turn down. Their bid will be a ‘sweetened’ version of their December 20 bid, although details have not been made available.
When asked about his group’s bid earlier this evening, Victor Muller from Spyker said the following:

No changes here. We are putting our bid in tonight and are more determined than ever to demonstrate that Saab can indeed be saved. Vic

A lot of press outlets are picking up on the news about Genii submitting a bid for Saab today. Some are reporting that they are working with a Swedish entrepreneur at the face of the bid, which I believe to be accurate.
They quite possibly have the money, but do they have the experience and have they been in the game long enough to really know what’s involved here and put GM at ease?
My favourite Swedish quote provider, Paul Akerlund, has passed comment on Ed Whitacre’s thoughts from yesterday, where Big Ed said he didn’t think that a deal would be done and they’re still waiting for someone to “bring the money”.
Akerlund opined that Whitacre was basically just trying to squeeze out some extra money from bidders, which I think is 100% correct.
Other members of IF Metall have spoken with various stakeholders and believe that a sale of Saab is very possible.
Bo Rothstein from the University of Gotherburg believes the workers should buy out the company.
I’m not sure who’d provide the funding, though.
OK – keep each other informed.
I’m off to saw some logs.

Comments are closed.

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.