As reported yesterday, Spyker Cars announced that it has submitted a renewed offer for Saab. CEO Victor Muller said that an 11-point proposal was submitted to GM, addressing each of the issues that came up during the due diligence process and that the renewed offer would remove those obstacles.
Originally Spyker’s bid was to expire by 5 p.m. today. The company has just announced that it will now extend its offer until further notice.
In a short press release released earlier this morning Spyker said that it has “been in contact with GM today, and continues to develop its proposal for the purchase of Saab. Spyker has extended the validity of its proposal therefore until further notice.”
On the other hand, GM said yesterday that since its announcement of an orderly wind down of Saab, it has received many inquiries from several parties other than Spyker.
“We will evaluate each inquiry. We will not comment further until these evaluations have been completed,” GM said.
– By: Omar Rana