General Motors Co. set a Dec. 31 deadline for itself to decide whether it will latch on to a bid for Saab or just shut it down. From now until the end of the month, GM will be considering numerous bids for the money-losing Swedish brand.
GM declined to reveal who the bidders were but it is speculated that Dutch super sports carmaker Spyker Cars NV and its Russian owner, Converse Bank, are among those that have submitted a bid to buy Saab. GM said that if it is unable to find a “suitable arrangement” for Saab by then, it “will begin an orderly wind down” of the business.
Read Article