May 27th, 2009 - Bloomberg
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May 27 (Bloomberg) -- German Chancellor Angela Merkel willbe pressed to choose Magna International Inc. as the buyer ofGeneral Motors Corp.’s Opel division, even after the ministerleading efforts to rescue the unit said all bids came up short.
Merkel will host talks tonight in Berlin as bidding reacheswhat she called a “kind of climax.” Unions, Merkel’s coalitionpartners and politicians from her own party urged her to opt forCanadian auto-parts supplier Magna over Italy’s Fiat SpA and athird suitor, RHJ International SA. It’s an election year andMagna may preserve more of Opel’s 25,000 German jobs.
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Steve Parker: GM and Chrysler - The latest
May 27th, 2009 - The Huffington Post
GM creditors have refused a deal which would have seen trade $27 billion in bonds for 10% of a "new" GM. This will almost surely push the company into bankruptcy either on or before June 1.
RPT-TIMELINE-Recent events in the Opel sale story
May 27th, 2009 - Reuters
(Repeats to additional subscribers) May 27 (Reuters) - Germany is aiming to narrow the field of bidders forGeneral Motors (GM.N) unit Opel at a meeting on Wednesday evening, and reach adeal to provide bridge financing should its U.S...
Magna gets early nod in race for GM's Opel
May 22nd, 2009 - Forbes
* Germans show preference for Magna's Opel bid * Magna sees 10,000 job cuts in Europe, Bochum hit hard * NRW state and unions say Magna job plans unacceptable (Rewrites with German official...
Reports: Fiat feels lucky on Opel, but GM has misgivings
May 21st, 2009 - USA Today
MILAN (Reuters) — Fiat is convinced it has more than a 50% chance of succeeding in its bid for Opel because it does not think the other contenders have the expertise to revive the carmaker...
Can Fiat Still Bag Opel?
May 21st, 2009 - Forbes
LONDON - Fiat's prospects for taking over Opel aren't looking good. Several reports said Thursday that Magna International was a preferred suitor to buy General Motors' European operations...
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2:15GM Opel Attracts Bids From Fiat, Magna, RHJ - Bloomberg
General Motors attracts three bids for its German unit Opel. Fiat, RHJ International and Magna shows attention. (Bloomberg News)
2:32Magna and Sberbank await decision on Opel
Talks on the sale of Opel stalled after General Motors demanded additional money. GM's last-minute price hike came after the sole American bidder withdrew, leaving the contest to Fiat and the Magna-Sberbank alliance.
2:15GM Motors: Fiat and Magna in running for takeover
IN THE FIELD: After a marathon 12-hour session broke down in acrimony, a last-ditch set of negotiations are to take place in Berlin on Friday over the future of Opel. But Fiat, one of the two remaining bidders, has announced it will not participate in the talks.
1:49Fiat Plans: Opel, Vauxhall Tie-up
Just a few days ago, Fiat's CEO, Sergio Marchionne sealed a partnership deal with US carmaker Chrysler. Now he's in Berlin, trying to convince German politicians about a tie-up between the Italian carmaker and General Motors' struggling German unit Opel ...
