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General Motors, Nissan-Renault end merger talks

Discussion in 'Other Cars' started by Rancid13, Oct 4, 2006.

  1. Rancid13

    Rancid13 Cool Chick with a Black Prius

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    Extra 10/4/2006 1:23 PM ET


    General Motors, Nissan-Renault end merger talks

    Chief executives agree in phone conversation to halt negotiations on potential alliance.

    By MSN Money and wire reports

    Talks of a marriage of convenience between General Motors (GM, news, msgs) and Nissan-Renault (NSANY, news, msgs) have broken up over disagreement about the value of the proposed tie-up.

    Negotiations faltered on General Motors' insistence that Nissan-Renault pay a "control premium" if it bought 20% of GM's stock as part of the alliance, The Wall Street Journal reported, citing sources close to the two-month-old talks.

    The companies issued a joint statement confirming the story. The statement cited disagreement over whether the gains from an alliance would be equally shared and GM's proposal that Renault-Nissan pay it an unspecified sum once the deal closed.

    Full Article
     
    #1 Rancid13, Oct 4, 2006
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