First DaimlerChrysler, Now General Nissan?
Rumor has it that GM’s top shareholder, Kirk Kerkorian, has requested that they form an “alliance” with Renault-Nissan. An emergency meeting is being held today to discuss the matter, which is a move that would indicate that they are taking his proposal at least somewhat seriously.
According to Kerkorian, Renault-Nissan would be ready to “buy a significant minority interest” in GM and the matter has already been discussed with the Renault-Nissan Alliance CEO, Carlos Ghosn.
The proposition, made by Kerkorian through a letter sent to General Motors’ CEO, Rick Wagoner, is that the GM board of directors form a commitee to explore the possible opportunity of joining the existing Renault-Nissan Alliance.
GM’s official response, via press release, was this:
FOR RELEASE: 2006-06-30
DETROIT– General Motors Corp. (NYSE: GM) has received no offer or proposal from Renault/Nissan with respect to its participating in the Renault/Nissan Alliance, as suggested in the 13-D Filing made today by the Tracinda Corporation. The Tracinda request will be taken under advisement by the GM Board of Directors. At this time, we have no further comment.