|Home > News > Dutch carmaker Spyker sweetens bid for Saab
|Dutch carmaker Spyker sweetens bid for Saab
|Dutch luxury carmaker Spyker submitted an improved bid for Sweden's Saab to General Motors Co on Thursday, just ahead of a key deadline that could prompt closure of the brand.
"We have continued a constructive dialogue with GM over the acquisition of Saab. We believe the Saab brand has lots of potential and would be keen to close a deal as quickly as possible," Spyker Chief Executive Victor Muller said in a statement Thursday.
GM GM.UL, which three weeks ago said it would shut down the 60-year-old automaker, did not indicate how it would treat Spyker's bid or any other bids for Saab.
At least two other bids for Saab were submitted to GM on Thursday, according to a report in Sweden.
"GM continues to receive and evaluate proposals for Saab," GM said in a statement. "We consider any discussions to be confidential, and we won't discuss any details until a decision is reached."
More than 3,000 workers in Sweden will lose their jobs if Saab cannot be saved.
On Wednesday, GM Chief Executive Ed Whitacre said he was "not confident" of reaching a deal to save Saab, citing difficulty by potential buyers in arranging financing for a purchase of the money-losing brand.
GM has said it is moving ahead with plans to wind down Saab operations first announced in mid-December but could stop that process if it finds a buyer for the brand under the right conditions.
Earlier on Thursday, Muller had told Reuters he was "confident that we will put in an acceptable bid."
A person with knowledge of the negotiations said Swedish parties were in talks with GM ahead of a meeting of Saab's board set for Friday.
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