Ttela talked to James Cain, the CIO of GM. We all got to know him as the guy who brought us the “no” to the deals Youngman and SWAN tried to get through. He was pretty strong stating that there are no discussions with Saab bidders at the moment despite they have been approached by some.
– It is reported that we are in discussions with Brightwell, but categorically, we do not discuss with them. We do not discuss with anyone, says GM’s CIO James Cain on Monday.
I would not want to get hard on Brightwell now because they stated they are in contact with GM. If something is going on behind the scenes it is nothing to talk about in public and maybe even subject to non-disclosure agreements. For any potential bidder it is crucial to know GM’s stance before they place a bid as this seriously affects the amount of investment that is needed. Not to discredit James Cain here but things regarding mergers and acquisitions activities just like those license agreements are mostly dealt with behind closed doors. And if you want to keep it secret you don’t tell your press guys. This happens all the time.
This is not to say I know what is going on there or not, it’s just to remind you to keep calm. There are many things that we do not know and as eager as we are to get news, no party in the has to disclose all details to us. Some things have to stay behind closed doors where they belong, even more in times like these. As the receivers stated there are still all potential bidders in the game and what Mr. Cain had to say did not sound like “no licensing to anyone” anymore. Take this as a good thing and stay optimistic.