Spyker makes bid to GM for Saab

Gilbert Kreijger writing for Reuters reported that Spyker Cars pressed ahead with efforts to cut a deal for Saab with General Motors, with talk of possible backing from a Dutch billionaire fanning the Swedish carmaker's faint hopes of an eleventh-hour reprieve. Shares in the Dutch luxury carmaker rose sharply on Tuesday after local media reported the bid, modified after GM said on Friday it would wind Saab down despite Spyker's ongoing interest, had won support from financier Marcel Boekhoorn. But in comments to a newspaper Boekhoorn denied he was involved, and the market remained skeptical that Russia-backed Spyker – which extended its new offer to buy Saab shortly before it was set to expire on Monday – would clinch a deal.

"The new offer came as a surprise, and now there is the (report) of … Boekhoorn who slipped in through the back door. That gives the shares a boost," said Keijser Capital trader Michael Jabroer. "(But) I think this is going to be capital-destructive.