GM CEO says deal to save Saab from extinction is unlikely to be completed
By Andrew C., 27 Aug, 2010. 0 Comments
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Because none of the potential bidders have the financing needed to restructure Saab, General Motors Co. CEO Ed Whitacre said that it is likely the wind-down process will continue. Whitacre said that there's nothing complicated about the criteria required for a breakthrough deal to be entered. He says that the bidders only have to show up with money but that so far, no one has that kind of amount. Whitacre said that GM has tried its hardest to sell Saab. GM is reportedly shutting down Saab plants later this week. [via autonews]
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