Revised Saab Offer Presented To General Motors (GRM)

Swedish businessman Lars Carlstrom on Wednesday told Dow Jones Newswires that his consortium, including Luxembourg-based investment firm Genii Capital and Formula One entrepreneur Bernie Ecclestone, will submit a revised offer for General Motors Co.'s (NYSE: GRM) Swedish unit Saab before 1300 GMT. "We will submit a clarification, regarding liquidity, cash, and other things," Carlstrom said, adding "we're working on it."

Dutch luxury car maker Spyker Cars NV is also bidding for Saab. "We are trying to reach an agreement with GM on several outstanding issues," Spyker Chief Executive Victor Muller told Dow Jones Newswires Tuesday, adding he expects a final answer from GM by the end of this week.

The fall of the General Motors Company is a sign of the times that we live in. While companies like Ford Motor Co (NYSE: F) and Toyota Motor Corporation (ADR) (NYSE: TM) race ahead in the global auto market, the rather unwieldy GM has lagged behind with its huge size coming in the way of nimble market moves in a fiercely competitive environment.