Saab May Not Be Dead Yet, Spyker Submits a New 11th-hour Proposal

On Friday GM announced that it would be winding down the Saab brand in January after talks with both Spyker and Swedish carmaker Koenigsegg failed. Now Spyker has announced today that the car maker has submitted another bid for Saab.

Spyker Chief Executive Victor Muller stated that the company submitted a new proposal to GM that addressed the issues that were holding up the deal. “Despite our collective 11th-hour set-back, we are returning to the table with a renewed offer, that addresses every known issue brought to light during the initial negotiations and that has the full backing of the Saab management,” Muller said in a statement.

If the Saab brand does die approximately 3,400 jobs will be lost. After Friday’s announcement it was also reported that the Swedish government was holding emergency meetings to address the issue.

The new proposal from Spyker has an expiration date of Monday at 5pm ET.

Full Story: CNN

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