Following its recent renewal of GM Defense, General Motors may be looking at buying AM General, the maker of the Humvee, too. With the military vehicle maker up for sale, GM is one of a group of companies with a reported interest in the company.
Reuters reports that AM General has hired investment bank Macquarie Group Ltd to find bidders. The deal will apparently be worth up to $2 billion.
The defense contractor may attractive to buyers as the US military begins a wide-ranging modernization of its forces. AM General was also recently awarded a 2,800 vehicle contract for High Mobility Multipurpose Wheeled Vehicle ambulances, a deal that could be worth $800 million on its own.
GM won't be alone, though, as potential bidders also include General Dynamics, Oshkosh Corp, BAE Systems, FCA, and more.
As mentioned at the top, GM has already shown an interest in producing military vehicles. After reviving GM Defense, it produced the SURUS concept, a multipurpose fuel cell truck with military applications, and a Colorado ZH2, again a fuel cell vehicle, that has been delivered to the military for testing.
[source: Reuters]
lead image by CambridgeBayWeather - Own work, CC BY-SA 3.0, Link
Reuters reports that AM General has hired investment bank Macquarie Group Ltd to find bidders. The deal will apparently be worth up to $2 billion.
The defense contractor may attractive to buyers as the US military begins a wide-ranging modernization of its forces. AM General was also recently awarded a 2,800 vehicle contract for High Mobility Multipurpose Wheeled Vehicle ambulances, a deal that could be worth $800 million on its own.
GM won't be alone, though, as potential bidders also include General Dynamics, Oshkosh Corp, BAE Systems, FCA, and more.
As mentioned at the top, GM has already shown an interest in producing military vehicles. After reviving GM Defense, it produced the SURUS concept, a multipurpose fuel cell truck with military applications, and a Colorado ZH2, again a fuel cell vehicle, that has been delivered to the military for testing.
[source: Reuters]
lead image by CambridgeBayWeather - Own work, CC BY-SA 3.0, Link
