GM To Shutter Saab As Final Deal Falls Through

Law360, New York (December 18, 2009, 4:57 PM EST) -- Having failed to secure a deal to sell Saab Automobile AB, General Motors Corp. has announced that it will commence an “orderly wind-down” of the Swedish automotive brand.

On Friday, GM said “certain issues arose” during its due diligence process with Saab’s Spyker Cars, which expressed interest in buying the brand after Koenigsegg Group AB abruptly backed out of its planned takeover of Saab. Unfortunately, GM said, neither company believes the issues can be resolved.

“We regret that we were not able to complete this transaction...
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