Clint Eastwood once famously said in a movie, “Dyin’s no way to make a livin’.” That may hold true for people, but the protracted demise of Saab has gotten the company more attention than it has had during its entire stint as a wing of GM. Just when it looked like the division was really toast, Saab has one last glimmer of hope due to a revised buy offer from Spyker, the only remaining party interested in the company.
The offer came in over the weekend after GM said on Friday that it was not comfortable with dealing Saab to Spyker over a couple fundamental issues. In normal terms, GM’s afraid of getting screwed out of payment because Spyker is a boutique sports car manufacturer that seems to be subsisting on Russian loans. If Spyker is on such shaky terms, how will it carry the large nut that will be the sale price for Saab?
Spyker went back to the table and tried to comfort some of GM’s concerns with a revised offer. Spyker has placed a deadline to accept or decline the offer by 5 p.m. eastern time on Monday.
The way this is going, we’re thinking Saab may want to change its name to Rasputin motors. The New York Times carried the story and will fill you in on all the details.
