GM to discontinue Saab after deal talks collapse
NEW YORK – General Motors Co. said Friday it will shut down Saab after talks to sell the brand to a Dutch carmaker collapsed, marking the third time this year that a deal by GM to sell an unwanted brand has fallen through.
GM said it had a small window of time to complete the deal and issues arose during the sale talks with Spyker Cars that could not be resolved. GM Vice President John Smith said representatives from GM, Spyker and the Swedish government were still in discussions Friday morning when talks fell apart. Smith declined to elaborate on the reasons. MORE>>>
