Mark Twain once said "The reports of my death have been greatly exaggerated," little did he know he could have been talking about Saab.
Just two days after GM announced Saab would be closed, Spyker has submitted a new 11-point bid which seeks to address several key issues that scuttled their previous offer for the company. While details are limited, it appears the new offer will eliminate Spyker's need to be approved for a European Investment Bank loan before the end of the year.
According to Spyker's CEO, Victor Muller, "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." He added, "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 December 31."
GM responded by issuing a statement which said "Following Friday's announcement that GM will begin the orderly wind down of Saab, GM has received inquiries from several parties. We will evaluate each inquiry. We will not comment further until these evaluations have been completed."
While it's interesting to note GM mentioned "several parties", Spyker's offer is valid until 5 p.m. EST on Monday, December 21st.
