Shares in the Dutch luxury car firm, Spyker, have soared after it renewed a bid for General Motor’s Swedish car business Saab. By mid-morning Spyker shares were up 27% at 2.17 euros in Amsterdam. GM has until 1700 US Eastern time (2200 GMT) on Monday to respond to Spyker’s bid.
The new offer follows GM’s statement last Friday that it would start winding down Saab after initial talks with Spyker failed and GM says it is “evaluating” inquiries from several parties into Saab.
Spyker, which is partly owned by the Russian banking tycoon Vladimir Antonov, has submitted a new 11-point proposal to GM, addressing the issues that ended the previous talks.
Spyker’s chief executive Victor Muller said on Sunday he was “very confident” his new offer would lead to a deal.
“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,” Mr Muller said.
“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.”
Source: BBC News