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More time for Saab as Spyker extends deadline

By Blogger on 22 Dec 2009

Attached Image: Dont_turn_back_the_clock1.jpg
Spyker, the Dutch sportscar maker has extended its last-ditch bid offer to buy Saab from General Motors.

“It is open-ended. It has been extended until further notice,” said Victor Muller, Spyker’s chief executive officer. "Spyker has been in contact with GM today and continues to develop its proposal for the purchase of Saab. Spyker has extended the validity of its proposal therefore until further notice," the company further said in a statement. Spyker had announced a renewed bid for Saab on Sunday and said earlier that its offer was only valid until Monday (21-Dec) at 2200 GMT.

Any takeover deal, if it is to be made, will have to be concluded before the deadline of 31-Dec 2009, which has been set by General Motors.

Hopes are slim, and the Swedish folks are poised to lose over 8,000 jobs, including subcontractors and others dependent on the carmaker.

Saab, Spyker, Saab take-over

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  • 1
Carcuter88 Dec 22 2009 02:45 PM
I don't see how they can meet the deadline to finalise the deal by 31-Dec 2009.
  • 1
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