AM Online

Saab sale saga continues

Dutch sports car manufacturer Spyker has extended its deadline indefinitely for its revised offer to buy Saab.

GM announced last Friday that it would begin shutting down Saab after failing to come to terms with Spyker’s original bid.

However, Spyker made a new bid which it said removed the obstacles that were standing in the way and the original deadline was 10pm on Monday.

Although Spyker has opened up negotiations for as long as it takes, GM had previously stated that it could not keep Saab running in the new year, giving an unofficial deadline of December 31, 2009.

The Swedish Government said the renewed offer gives a "slim hope" for Saab because of it being so late in the day.

The sale of Saab has been a slow process. Some analysts have commented that GM does not want to sell Saab, preferring for an orderly rundown keeping all assets, in order to stop commercially sensitive technology appearing in a Russian or Chinese manufacturer rival model offering in the long term future.

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