Spyker Renews Bid

updated 15:12

Dutch Spyker has renewed its bid to buy Saab from its American owner General Motors. Spyker chief executive Victor Muller said in a press release that a revised bid had been submitted to Detroit on Sunday.

According to Muller the new offer will be valid until Monday, 1700 hours Eastern Standard Time.  

‘We have made efforts to solve the problems that have blocked a purchase, and we have asked GM and everybody else involved to reconsider the situation,’ Muller said. 'It is still possible to reach an agreement,’ he added.

Muller said the new offer includes an eleven-point proposal to overcome obstacles that had become evident during the due diligence process.

He said that the renewed bid eliminates the need for a European Investment Bank loan approval before the year’s end. In his words, this will allow the deal to be concluded within GM’s deadline.

A SAAB spokesperson in Trollhättan confirmed that Spyker had come with a new bid, but she declined to comment on it.

'This is up to General Motors,' she said.