Saab turns down takeover offer by China

Full Story: The Guardian

While there were news in the air for quite sometime now that the Saab car manufacturing is being taken over by China's 's Zhejiang Youngman Lotus Automobile and Pangda Automobile Trade, Victor Muller, the CEO of the ailing Swedish manufacturing giant has turned down a "full blown takeover offer" from China. Muller was of the view that the token offer would trigger every conceivable change of control clause and that would possibly mean the end of Saab, reports Reuters Friday.

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