Renault Denies *GM TAKEOVER* Rumors

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Thread: Renault Denies *GM TAKEOVER* Rumors

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    Renault Denies GM Takeover Rumor

    Link: http://www.autonews.com/news.cms?newsId=13488


    Reuters / October 05, 2005

    PARIS -- Renault SA denied on Wednesday a media report saying it was considering making an offer for Ford Motor Co. or General Motors.

    French financial weekly Challenges said in its issue to be published on Thursday that Ghosn was "dreaming of a three-way alliance with Ford or General Motors".

    The magazine said Ghosn had been considering a bid for DaimlerChrysler AG, but the recovery of the share price of the U.S.-German group had led him to change aim.

    "He is closely studying an alliance with General Motors or Ford, where he declined an offer by the family to become chairman," the magazine said, adding the market value of the two U.S. groups was smaller than that of Renault and much smaller than that of Nissan.

    "A precondition for such an operation, which would take place in the form of a share swap and that Ghosn wants to be friendly, would be that the U.S. state assumes at least part of the pension costs," the paper said.

    Renault has a market capitalization of $28 billion, and Nissan's market cap is $52.7 billion.

    Ford and GM, with a junk debt rating, are each worth about $17.5 billion

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    Re: Renault Denies GM Takeover Rumor

    What a crazy day!

    I think I've posted six articles today.

    Of everything I've sent today - this one takes the cake.

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    Re: Renault Denies GM Takeover Rumor

    Glad it's not true. Though Goshen would really help GM or Ford, I'd hate it if they were bought out by a foreign company.
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    Re: Renault Denies GM Takeover Rumor

    Wow...I think a French company like Renault would be a bad decision....

    I think they would do well in bringing newer vehicles(See Nissan reemergence) BUT....A FRENCH company buying one of the big 3 would be unheard of.....I swear...most Americans that buy Amercian for that reason would not buy French owned products.....That's why I heard that Renault might try to get back into the states by starting small and testing the waters by offering products through Nissan(hasn't happened yet)

    LOL....but hey.....with names like Chevrolet, Le sabre, etc....aren't you inviting it? :p

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    Re: Renault Denies GM Takeover Rumor

    Quote Originally Posted by SonicAerio
    Wow...I think a French company like Renault would be a bad decision....

    I think they would do well in bringing newer vehicles(See Nissan reemergence) BUT....A FRENCH company buying one of the big 3 would be unheard of.....I swear...most Americans that buy Amercian for that reason would not buy French owned products.....That's why I heard that Renault might try to get back into the states by starting small and testing the waters by offering products through Nissan(hasn't happened yet)

    LOL....but hey.....with names like Chevrolet, Le sabre, etc....aren't you inviting it? :p
    Why not? The Germans sure did a heck of a job fixing up Chrysler, and Renault (Ghosn) has done a far more impressive job with Nissan. Maybe Ghosn is the kick in the a** GM or Ford needs to get going. Lord knows Americans can no longer run a successful auto company, why not give Toyota and Renault/Nissan a chance? It can't hurt.

    Maybe the business model of the English car makers and Chrysler is the best option for this country - when you can no longer compete and you are getting beat left and right, maybe it is best to put the white flag of surrender out. Then we can have the little 3 family of foreign owned "American" car companies. We are 1/3 of the way there anyway, why not go all the way?

    Actually, I would love to see Renault/Nissan go after DCX - it would be sweet justice.

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    Re: Renault Denies GM Takeover Rumor

    Quote Originally Posted by 86fleet
    Glad it's not true. Though Goshen would really help GM or Ford, I'd hate it if they were bought out by a foreign company.
    1 down, 2 more to go. Who will be next?

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    Re: Renault Denies GM Takeover Rumor

    Holy crap! A French company owning an American manufacturer? If that did happen, they'd be smart to just cease all US operations... not too many Americans are going to be buying a French GM or Ford! Is today April 1st somewhere in the world?
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    Re: Renault Denies GM Takeover Rumor

    Quote Originally Posted by AJR
    1 down, 2 more to go. Who will be next?
    You are so stupid.

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    Re: Renault Denies GM Takeover Rumor

    Quote Originally Posted by paul8488
    Holy crap! A French company owning an American manufacturer? If that did happen, they'd be smart to just cease all US operations... not too many Americans are going to be buying a French GM or Ford! Is today April 1st somewhere in the world?
    Well people buy German Chryslers and French Nissans. I don't think it is that big of a stretch to think people would be so put off by a French (or foreign) owned anything anymore. Especially if Ghosn and his team bring out superior rwd sedans and muscle cars in the great GM tradition - the ones you fan boys have been screaming and screaming about for the last 5 years. I've seen peoples' attitudes do a complete 180 when their "wish" is granted after years of desperation.

    Don't tell me the people in this country would shun Ghosn and the French if they delivered a new rwd Impala SS, Camaro, Firebird, Riveria, etc.... and turned GM into the envy of the industry.

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    Re: Renault Denies GM Takeover Rumor

    Bill Ford asked ghosen months ago if he wanted the job and said no.

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    Re: Renault Denies GM Takeover Rumor

    Quote Originally Posted by Bvonscott
    You are so stupid.
    I got the response I expected.

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    Re: Renault Denies GM Takeover Rumor

    You had to know that something like this was going to pop up. You'd have to be galactically stupid if you were to buy GM or Ford; talk about an enormous financial burden they'd be. There's a reason why companies with sales and revenue in the supra-$150 billion club are worth only $17.5 billion. Buying them would mean also inheriting enormous debt and legacy costs.

    AJR, you sound defeatist...

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    Re: Renault Denies GM Takeover Rumor

    Quote Originally Posted by tgagneguam
    You had to know that something like this was going to pop up. You'd have to be galactically stupid if you were to buy GM or Ford; talk about an enormous financial burden they'd be. There's a reason why companies with sales and revenue in the supra-$150 billion club are worth only $17.5 billion. Buying them would mean also inheriting enormous debt and legacy costs.

    AJR, you sound defeatist...
    I do..... read around this and other boards. You have one half that still thinks it is a travesty that Toyota is kicking the crap out of GM and Ford and that America should stand up and fight the imports. Meanwhile, these same people seem to let Daimler's purchase of Chrysler slide, like Chrysler really wasn't worth much effort to save and protect. So, I'm conflicted by these people. On one hand, I appreciate the desire and voices shouting out against the decline of Detroit and America, but on the other hand, I can't comprehend this double standard on how the Japanese are the ONLY companies destroying/ taking over when the Germans have been pretty much on a buying spree for the last 8 years and have, in effect, taken over ONE of our auto companies already - yet, nothing at all is even mentioned. You even seem to skim over this fact when you post some of your responses.

    On the other side of the coin, you have people on here that think competition, full and open, is the best thing and only thing to care about. Well, we Americans pretty much invented the art of cut-throat business, but for some reason we seemed to have forgotten it over the years. Thus, with more and more people leaving Detroit and going somewhere else, their attitude is changing from "Save Detroit" to "I just want a great car no matter who builds it". When that attitude becomes far more reaching in this country, like it is today, you begin to see that it is rather hopeless to counteract these points. I believe people should have the right to buy what they want, but I also believe people in this country should want to be proud of their country. I want to be proud of it myself, but I find very few reasons to be. Right now, I see point one being used overwhelmingly in arguments that counteract the "buy American" people - to the point that the "Pro-American" people don't have a leg to stand on anymore. 20 years ago, it was the exact opposite. Thus, a major shift has occurred; one I do not foresee changing any time soon. The cracks forming in Detroit's defense have grown to the point that they can no longer be fixed.

    So, am I defeated? Pretty much. I figure just let things happen because their is not a **************** thing I can do about it. Shoot, I might be joining the import side (as much as it makes me sick to say it) in a few years because Detroit just can't seem to get its act together. I don't want an suv; I don't want a full size truck; I don't want a crossover vehicle; Detroit does not make the kind of car I want to purchase. Lexus just might have what I want if it decides to build an IS coupe. Should I sit here and boo them when in reality they are making the kind of vehicle I'd like to upgrade up to? At the end of the day I've play out so many scenarios in my head, and have been for the last 15 to 20 years, that I just throw up my hands in the air in frustration.

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    Re: Renault Denies GM Takeover Rumor

    Quote Originally Posted by AJR
    Well people buy German Chryslers and French Nissans. I don't think it is that big of a stretch to think people would be so put off by a French (or foreign) owned anything anymore. Especially if Ghosn and his team bring out superior rwd sedans and muscle cars in the great GM tradition - the ones you fan boys have been screaming and screaming about for the last 5 years. I've seen peoples' attitudes do a complete 180 when their "wish" is granted after years of desperation.

    Don't tell me the people in this country would shun Ghosn and the French if they delivered a new rwd Impala SS, Camaro, Firebird, Riveria, etc.... and turned GM into the envy of the industry.
    I dunno... it has less to do with being 'foreign' and more to do with being 'French'. The timing is a little dicey for a French (you know, America's good friends) company to take over the most hallowed of American institutions. Maybe over time the sting would go away and people would gravitate back to a French owned GM with great product... but not until after a HUGE downturn.

    I also have no confidence that Renault or anyone else could dig out from under the financial troubles GM has if GM can't on its own. The article suggests Renault would want the US government to help out with the pension costs. If they're going to do that, why the heck not do it while it's still US owned? It'd be ridiculous to support a French company in this way and not extend the favour to the company as a US manufacturer.

    Plus, wouldn't Renault (or anyone else) still have the UAW to deal with? Strap the current and future financial burden associated with that to any import manufacturer and see how they do.
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    Re: Renault Denies GM Takeover Rumor

    I doubt they would get past anti trust.. Honeywell GE did not

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