General Motors Receives Second Offer from Spyker for Saab

Swedish brand of cars, Saab, is currently owned by General Motors who has decided to shut down its operations after its talks with Dutch luxury car maker Spyker had collapsed. Spyker has submitted a revised offer for Saab in a last-ditch effort to save one of Europe's best known brands. It has put a deadline of 5 pm Monday for the renewed offer to be accepted by General Motors. Spyker has submitted a new 11-point proposal that it claims addresses each of the sticking points that arose during the due diligence process.

"Despite our collective eleventh-hour set-back, we are returning to the table with a renewed offer, that addresses every known issue brought to light during the initial negotiations and that has the full backing of the Saab Management,” said Victor Muller, Spyker Chief Executive.

If Spyker’s offer is not accepted by General Motors, it would mean the company will wind up Saab brand. General Motors also stated that it was looking for buyers to buy some parts of the company. Since the company is not being put under administration nor it is filing bankruptcy the company expects Saab to satisfy its debts and wind down production in an orderly manner. Saab has failed to turn a profit since 2001.

• Images of Chevrolet’s upcoming MPV to be named as Enjoy           January 24, 2012
• Details and Images of the premium hatchback Chevrolet Sail           January 24, 2012
• Chevrolet Showcases 15 Production and Concept Vehicles at 11th Auto Expo in New Delhi           January 10, 2012
• Auto Expo 2012 – General Motors unveils Chevrolet Sail Premium Hatchback and MPV Concept           January 06, 2012
• Chevrolet showcases a series of upcoming portfolio cars at the auto expo           January 06, 2012
• Chevrolet Showcases 15 Production and Concept Vehicles at 11th Auto Expo in New Delhi           January 05, 2012
• Auto Expo 2012: GM India set to amaze car enthusiast by showcasing six upcoming Chevrolet car models           December 31, 2011
• Chevrolet Volt reaches near to perfection           December 26, 2011
• 2013 Chevy Sonic RS to be showcased at the 2012 Detroit Auto Show           December 20, 2011
• Chevrolet Beat diesel to get expensive by Rs 15,000 from January           December 07, 2011
• Chevrolet Volt EV debuts in China at $78,300           November 28, 2011
• Chevrolet Cruze sales drop steeply, GM shuts production temporarily           November 17, 2011
• Chevrolet to reveal 2013 Spark Minicar at LA Auto Show 2011           November 17, 2011
• Chevrolet Sonic set to earn laurels for the company           November 15, 2011
• All new Chevrolet Spark 1.2L to be uncovered at the LA Motor Show           November 14, 2011