After withdrawing its original $492 million bid for Saab, Zhejiang Youngman Lotus Automobile has returned to the bidding with a fresh offer of $552 million, according to a report from Bloomberg. Right now, Youngman is bidding for Saab against a group comprised of a Japanese investment firm, Sun Investment and Hong Kong-based National Modern Energy Holdings.
Anyone who has ever set up a Hot Wheels track knows that there is no more awesome an automotive stunt than the loop-the-loop. While some would argue that a good old fashioned Duke Boys jump takes the prize, we feel that the case for driving upside down is just irrefutable. That there are apparently people actively setting new world records for driving around loop-the-loops only makes us more convinced.
Ladies and gentlemen, those of you preparing to leave the theater because you thought the Saab opera was over, well, take a seat. After sinking a fair bit of money into the troubled Swedish automaker while chasing the deal, Youngman isn't ready to walk away. According to Reuters, the Chinese firm is ready to make a new bid for the Swedish brand as soon as next week, and it could be worth more than a billion Euros. Stay with us, because as you might expect, it's a bit convoluted.
As much as the universe would seemingly like to see Saab wiped off the face of the Earth, this stubborn automaker from Sweden refuses to go quietly into the night. Despite reporting two days ago that Saab was on the verge of bankruptcy, it has been pulled back from the edge (again) today by Chinese automaker Zhejiang Youngman Lotus Automobile Co.