Merbanco has officially indicated that the company is out of the bidding process for Saab Automotive. The Wyoming-based company was not selected by General Motors to buy the Swedish automaker after a nine month long negotiations and bidding process. This leaves Spyker, Genii-Ecclestone, and Nygren-Samuelson as the remaining three bidders.
Here is the message from Merbanco CEO Chris Johnston’s regarding the development:
All: Despite our best efforts and meeting the Sellers requirements, we were just notified we were not selected to buy Saab. We are disappointed and quite tired and simply want to tell everyone here how grateful we have been for the support. We will now turn our efforts to other opportunities and support of whomever is selected, if anyone is selected.
After 9 long months and a ton of money, this is our last effort on Saab. Many thanks to all who shared the dream with us. Sometimes the best deal is the one you don’t do.
We did our best and are proud of the effort.
BMW is a car brand.
Cadillac is a car brand.
There are many car brands…WE are Saab!
Chris Johnston
Merbanco
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