Saab’s Dutch owner rejects Chinese takeover offer

Victor Muller, owner of Swedish Automobile, formerly known as Spyker, has rejected a takeover bid from two Chinese firms.


‘The token offer was unacceptable because it would trigger every conceivable change of control clause and that would possibly mean the end of Saab,’ Muller told news agency Reuters.
Muller refused to give more details about the size of the offer.
The two Chinese car makers – Youngman and Pang Da – signed a deal in July which would give them a combined 54% stake in Swedish Automobile and should stick to it, Muller is quoted as saying.
Muller also told Reuters he did not think the Swedish government was interested in taking over cash-strapped Saab.
Swedish Automobile is listed on the Amsterdam stock exchange.

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