December 21, 2009
GM gets inquiries about Saab amid plans to shut unit
Can it be saved?
General Motors Co. said it received inquiries from several parties regarding its Saab unit after announcing it would close the Swedish automaker following the collapse of talks to sell the division, Bloomberg News reports. One approach was from Spyker Cars , which said it submitted a revised bid that will expire today at 5 p.m. in New York. Some asked about assets such as machinery, tooling or the factory at Trollhaettan, Sweden, where Saab is based, said a person familiar with the matter. The end of talks with Spyker last week led to Detroit-based GM's decision to wind down Saab. The fresh Spyker bid and the other inquiries may revive hopes that money-losing Saab can continue to produce cars. Some 3,500 jobs are at risk, along with thousands of jobs among suppliers to the automotive industry in Sweden. Two attempts to sell the 72-year-old brand have failed over the last month.
[PRINTER FRIENDLY VERSION]
|
