DETROIT — Saab may have a chance to live on after General Motors extended the deadline for bidding to buy its money-losing unit, originally set at December 31. Spyker's CEO, Victor Muller, reported that the deadline has been moved up to January 7 and also said he believes his company is not the only bidder, Reuters reported on Wednesday morning.
A Saab spokesman quoted by the news service said Saab will restart production in January to build the new 9-5 as well as the "9-3 and others," to complete orders already placed.
Spyker's latest offer was issued on December 20, two days after the Dutch company's initial talks with GM had been called off. At that time, General Motors issued a statement saying it "has received inquiries from several parties" and "will evaluate each inquiry." A previous bid from Koenigsegg Group of Sweden failed because of a lack of financing.
Inside Line says: It may be sometime in January, or even later, before Saab's ultimate fate is known. — Laura Sky Brown, Correspondent
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tp660 says:
02:56 PM, 12/30/2009
I really don't get GM. They spent so much time finding a buyer for Hummer yet they make shorter deadlines to find a buyer for Saab. I don't see Ford resorting to killing off brands. As far as I'm concerned, GM is just taking the easy way out.
firstclass says:
10:53 AM, 12/30/2009
Future viability is a big issue for companies interested in buying Saab. If GM is going to begin production of both the 9-3 and 9-5 this means their serious about attracting the highest bid, which is good news for us because it means Saab won't only be sold only for parts. I only hope that this move doesn't affect Spyker's offer because now Saab has more to offer then just a carcass. I never wanted to see the hyenas have their way with Saab but now Saab won't only attract predators (i.e.-
throwback says:
09:45 AM, 12/30/2009
Does this mean we will see the new 9-5 in the USA?
jm1212 says:
08:55 AM, 12/30/2009
If GM wasnt so greedy then they would have a buyer for Saab already. They're not going to make any money on the deal, and Saab hasnt made money ever since GM bought it years ago, so they should be happy if they get anything for it.