Three Finalists Emerge

Question Mark

On May 12th reported that there were 12 parties interested in purchasing Saturn. Today, Bloomberg News reports that GM has narrowed down the list of Saturn suitors to two, possibly three parties. This new thread of information was gathered from a person who is supposedly close to GM's private discussions. The names of two parties were disclosed by the insider: Penske Automotive Group and Black Oak Partners.

The third party remains a mystery except for the tidbit that the bidder is not a manufacturer. Could it be the Lazarus Team based in California or Magna International Inc. based in Canada? As the deadline to find a buyer for Saturn quickly approaches, details will certainly emerge in the coming weeks, maybe even days.

Yesterday, news reports indicated that Magna International Inc. was bidding for Saturn, however, Magna issued an official statement that "it is not in discussions with GM." Perhaps they are in discussions with one of the three bidders? Both Penske and Black Oak will need to align with an outside manufacturer if they hope to continue the Saturn brand. Three manufacturers reportedly interested in this alliance include Renault/Nissan, Mitsubishi and Magna.

Sources: Bloomberg

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