Dutch supercar maker puts new offer to GM
21 December 2009

GM says it is evaluating several last-gasp offers for Saab - including a dramatic late bid from Spyker.

Dutch supercar maker Spyker submitted an 11-point proposal on Sunday, giving GM until 5pm Eastern Standard Time (10pm UK time) on Monday 21 December to accept. GM had said on Friday that it had ended talks, and would begin closing Saab down.

GM axes SaabHilton Holloway blog: What went wrong for Saab?Saab's history in pictures

Spyker CEO Victor R. Muller said the proposal to GM addressed each of the issues that arose during the due diligence process. He added that the renewed offer would remove each of the obstacles that were standing in the way of a swift transaction.

“We have made every effort to resolve the issues that were preventing the conclusion of this matter and we have asked GM and all other involved parties to seriously consider this offer,” said Muller.

“We are very confident that our renewed offer will remove the impasse that was standing in the way of an agreement on Friday, and this would still allow us to conclude the deal prior to the expiry of the deadline originally set by GM of 31 December.

“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.

"The new offer eliminates the need for an EIB loan approval prior to year end, for example, which will allow the deal to be concluded within GM’s deadline.

"Our efforts are based on our passion for saving an iconic brand that we would be honoured to shepherd, and the jobs and livelihoods of thousands of loyal Saab employees, suppliers and dealers around the world."

Find an Autocar car review

Driven this week

Sweden's unions have urged GM to consider the new offer, with If Metall chairman Stefan Loefven saying: " I understand the frustration felt by everyone who is dependent on Saab, to be thrown between hope and despair is terrible. GM must now respond with a serious examination of the new bid."

Twitter - follow autocar.co.ukSee all the latest Saab reviews, news and video

Join the debate


20 December 2009

Please please please GM accept this new offer from spyker, i love saab and i dont want to see it die, come on GM for once do the right thing.

20 December 2009

This has to be the automotive story of the year! I truly hope this bid is successful because SAAB could be truly great. Especially with Spykers dynamic know how!

20 December 2009

I do hope Saab survive, their contribution has been too great for them to disappear. Great designs (96, 99, 9000), innovations (FWD, 2-stroke, turbo's) and rally history, and still just about enough of the Saab image in the present models to return to the old Saab heritage of clean, attractive and lively Swedish design.

20 December 2009

oooohhh im hoping this works for saab.....they deserve it....

20 December 2009

GM are so full of crap. Due diligence my ass... The 9-5, its designers, engineers and all of the SAAB workforce deserve better than for that car to be stillborn. Their first new car in years... their first new car that really looks like a SAAB in many more years. Good luck to Spyker, and to all affected. I think anywhere GM are involved, they may very well need it.

20 December 2009

bloody hell this is fantastic news come on GM dont even think about it accept and dont let this iconic company go to the wall! you know its the right thing to do for the company owners fans customers employees sweden and the car industry

20 December 2009

Really hope that GM accept this offer by Spyker. It must be very hard for people in charge at GM to view their company's impact from the outside, but if they look to be seen to really let Saab die, after the debacle with Opel, their reputation will be badly tarnished in mainland Europe and by those people who know and love Saab.This might affect some peoples decisions to buy a GM product over any other marque.

As another poster said, this new 9-5 mustn't be stillborn- it looks fantastic inside and out and if Saab really were such a small percentage of sales within GM , they are hardly going to threaten or compete for sales against other GM products in any way that would harm or cripple GM. Really GM owe it to SAAB, as a form of respect and in spirit of good will (since its xmas) to allow this story to have a happy ending.Even captains of Industry need to show they have a heart,Look at all those great philanthropists America produced in the 19th & early 20th century. That's what made America respected and loved-not callous , heartless acts like this.

They should really gift Saab to Spyker and at the very least accept its sale, rather than consign it to the automotive dustbin

20 December 2009

Exactly. Saab as a brand has suffered over the years of mismanagement by GM but it is not totally worthless as a brand, it is still worth saving. I love Spyker cars because theyre so individual and characterful & thats exactly the sort of design ethos Saab needs.

If GM thinks Saab isnt a viable business thats fair enough, business is business, but if Spyker thinks it is viable & are willing to take it off their hands then GM should let them try. Even if it goes to the wall in 12 months time at least they can say they tried their best to save it, rather than closing it unnecessarily which is what they are proposing.

currently a happy owner of a Mitsubishi Shogun Pinin :)

20 December 2009

[quote roverfan1984]but if Spyker thinks it is viable & are willing to take it off their hands then GM should let them try.[/quote]

Bad move. Leave a viable SAAB concern and you miss the opportunity to remove one more Piranha from the tank.

after all [quote roverfan1984]business is business[/quote]

20 December 2009

My feeling is that GM have a lot more to worry about than a viable Saab, particularly if they look towards Asia.


Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week