Magna is 'very close' to GM deal

[dipsydoodle]

Source: BBC News

Canadian car parts maker Magna International is the preferred bidder for GM Europe, owner of Opel and Vauxhall, Lord Mandelson has said.

The UK business secretary said a deal between Magna and GM was very near.

He was speaking after reports said Magna had reached an agreement in principle to rescue GM Europe.

The other potential bidder, Fiat, did not attend Friday's talks with the German government, saying Berlin's position was "unreasonable".

Read more: http://news.bbc.co.uk/1/hi/business/8074218.stm

[hedgehog]

1. This Magna?

http://gangbox.wordpress.com/2009/02/04/autoworkers-draw-a-line-in-the-sand-in-syracuse-magna-new-process-gear-workers-reject-job-blackmail-from-the-company-and-their-own-union/

http://network.nationalpost.com/np/blogs/fpposted/archive/2008/08/12/clinton-calls-stronach-in-plea-for-syracuse-magna-factory.aspx

[dipsydoodle]

5. Prolly

but whoever buys it there will be issues.

[blue_onyx]

2. I've heard rumors Magna was interested in Saturn too

If they got Opel and Saturn, the Saturn brand could actually survive.

[HopeHoops]

3. Oh please, oh please, oh please - I just had the most WONDERFUL wish!

Magna buys Opel AND Hummer and introduces the H4 - based on the frame and engine of the smallest thing Opel makes but with the stupid-ass design of a Hummer.

[dipsydoodle]

4. But , but, but

if Fiat bought GM they could do that on the 500 :rofl:

http://www.youtube.com/watch?v=wQgx2fgyuEs

[dipsydoodle]

6. Updated - UK jobs hope as GM deal agreed

Germany has agreed a deal with Canadian car parts maker Magna International to take over most of GM Europe, which owns Vauxhall and Germany-based Opel.

http://news.bbc.co.uk/1/hi/business/8074834.stm