GM will not reopen the bidding process
12 August 2009

General Motors has no intention of reopening the bidding process for Opel/Vauxhall and it plans to strike a deal with either of the two bidders for the car maker as soon as possible.

GM CEO Fritz Henderson said yesterday that he did not expect to reopen the Opel sale to any party beyond Magna and RHJ International. Henderson’s comments were echoed by GM’s chief financial officer Ray Young.

“I think everyone is anxious to get this thing done,” said Young, speaking on the sidelines of a GM event in Detroit yesterday.

When asked if a dark horse would emerge in the Opel/Vauxhall bidding, Henderson said: “I don’t think so.”

GM is believed to favour a deal for RHJ, while the Opel unions and the German government have thrown their support behind the Magna bid.

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