GM Evaluating Two New Offers for HUMMER Brand

[dwaxman1]

Just a day after announcing that their plan to sell the HUMMER brand to a Chinese company fell through, GM is reviewing two additional offers from the original pool of suitors.



The Wall Street Journal is quoting sources familiar with the matter as saying the two latest suitors have previously submitted offers, but had originally been turned down in favor of what appeared to be a more favorable deal with Tengzhong.



While HUMMER may be evaluating whether either company is viable, it’s understandable that GM would settle for far less money than it had originally hoped for – even with Tengzhong – which was around $150 million in cash and a long-term viability plan w/ guaranteed investment. Also, GM isn’t going to spend another year in negotiations with a new company.



HUMMER spokesperson Nick Richards told Yahoo Autos that they would entertain any new bids that came in for the brand. “In the early phases of the wind-down, we’ll entertain offers and determine their viability, but that will have to happen in pretty short order,” said Richards.

[JL]

So what did Spyker buy Saab for, $75 million cash + stock? I appreciate that $75 million is a ton of money, but in the grand scheme of business where people talk in billions $75 million is a drop in the bucket by comparison. That much at least gives me some hope, but time will tell!

[sampaglia]

Nice article on CNN



http://money.cnn.com/galleries/2010/aut ... index.html

[cbrandson]

Well I hope they pick TC's offer.

[Khamul]

I'll back him!

[T.C.]

<img src='http://www.canadianhummerclub.com/forum ... feSpit.gif' class='bbc_emoticon' alt=':coffeespit:' /> I MADE THE OFFER IN CANADIAN $$$$ ....THEY WILL LET ME KNOW <img src='http://www.canadianhummerclub.com/forum ... tongue.gif' class='bbc_emoticon' alt=':P' />

[T.C.]

[quote name='T.C.' date='26 February 2010 - 07:10 PM' timestamp='1267229455' post='13570']

<img src='http://www.canadianhummerclub.com/forum ... feSpit.gif' class='bbc_emoticon' alt=':coffeespit:' /> I MADE THE OFFER IN CANADIAN $$$$ ....THEY WILL LET ME KNOW <img src='http://www.canadianhummerclub.com/forum ... tongue.gif' class='bbc_emoticon' alt=':P' />

[/quote]





HOPE IT'S NOT TOYOTA MAKING OFFER <img src='http://www.canadianhummerclub.com/forum ... prised.gif' class='bbc_emoticon' alt=':whatever:' />

[duncanpa]

TC....I thought you made the offer in Canadian Tire money??

[dwaxman1]

I like your Signature Patrick.. well done!!

[T.C.]

[quote name='duncanpa' date='02 March 2010 - 08:26 PM' timestamp='1267579589' post='13755']

TC....I thought you made the offer in Canadian Tire money??

[/quote]



THEY TURNED ME DOWN <img src='http://www.canadianhummerclub.com/forum ... prised.gif' class='bbc_emoticon' alt=':whatever:' />