Honda and Nissan announce merger talks [Globe and Mail, The (Toronto, Canada)]
NISSAN MOTOR LTD S/ADR (NSANY)
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Source: Globe and Mail, The
The two Japanese automakers confirmed they are in merger talks on Monday following weeks of speculation. ????/The Associated Press Listen to this article Log in or create a free account to listen to this article. Honda and Nissan have begun merger talks that would see the Japanese onetime rivals become the world's third-largest carmaker by sales, amid intense competition from Chinese and other foreign rivals. After weeks of speculation, the two companies announced Monday they had signed a memorandum of understanding to form a joint holding company, in what could be the biggest domestic merger in Japanese automotive history. While limited details were available, the proposed deal appears to amount to an effective takeover of Nissan by Honda, with the latter to appoint the prospective company's new president and the majority of board members. Mitsubishi, which has an existing partnership with Nissan, is also involved in the talks, which the carmakers said they aim to finish by
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