GM's comments to Saab odd - Negotiations tense
Comments from General Motors Co. Chief Executive Ed Whitacre that a deal to save Saab Automobile AB was unlikely best are perceived as "negotiation tactics," a union leader at the Swedish car maker told Dow Jones Thursday.
"I find it odd," said Anette Hellgren, head of Swedish union Unionen at Saab, given the fact that revised bids for Saab will be accepted until the 2200 GMT deadline Thursday.
Whitacre Wednesday told reporters that he expected to begin shutting down the Swedish car maker by the end of the week.
However, Victor Muller, chief executive of Dutch sports car maker Spyker NV (SPYKR.AE), Thursday told Dow Jones Newswires that his company will make a new offer before the deadline, despite having previous bids turned down.
Spyker emerged as a potential suitor to Saab after Swedish sports car maker Koenigsegg Automotive AB pulled out of a proposed deal in November, citing costly delays in closing the deal.
Hellgren said that Muller has declared a willingness to stick with the business plan originally drafted by Koenigsegg, enabling Spyker to secure Swedish state guarantees on EUR400 million ($575 million) in loans.
"It's hard to follow. From what we know there's a discussion. We don't know what GM is basing its decision on," Hellgren said, noting that it's likely to take time to evaluate bids once received.
Source: GM's comments to Saab odd - Negotiations tense
"I find it odd," said Anette Hellgren, head of Swedish union Unionen at Saab, given the fact that revised bids for Saab will be accepted until the 2200 GMT deadline Thursday.
Whitacre Wednesday told reporters that he expected to begin shutting down the Swedish car maker by the end of the week.
However, Victor Muller, chief executive of Dutch sports car maker Spyker NV (SPYKR.AE), Thursday told Dow Jones Newswires that his company will make a new offer before the deadline, despite having previous bids turned down.
Spyker emerged as a potential suitor to Saab after Swedish sports car maker Koenigsegg Automotive AB pulled out of a proposed deal in November, citing costly delays in closing the deal.
Hellgren said that Muller has declared a willingness to stick with the business plan originally drafted by Koenigsegg, enabling Spyker to secure Swedish state guarantees on EUR400 million ($575 million) in loans.
"It's hard to follow. From what we know there's a discussion. We don't know what GM is basing its decision on," Hellgren said, noting that it's likely to take time to evaluate bids once received.
Source: GM's comments to Saab odd - Negotiations tense
