FROM BLOOMBERG: Koenigsegg Group AB canceled its planned acquisition of General Motors Co.’s Saab Automobile AB, and GM is considering shutting the brand, a person familiar with the matter said.
GM’s board plans to review plans for the Swedish unit at a meeting on Dec. 1, said the person, who asked not to be identified because the talks aren’t public. Directors could opt to keep Saab, as they did when deciding earlier this month to cancel a sale of the Opel brand in Germany, the person said.
GM has a contingency plan similar to a process being used to wind down the Saturn brand after the sale to Penske Automotive Group Inc. fell apart in September, the person said. MORE>
WTF!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!