Honda threatened Nissan in bid to fend off Foxconn, Nikkei says [Fortune]
Toyota Motor Corporation (TM)
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Source: Fortune
Should the approach from Hon Hai, the iPhone maker known as Foxconn, turn hostile after a rebuff, Honda also offered to protect Nissan as a white knight investor, the report said. Official talks, including around a possible merger, between the two Japanese companies may start as soon as Dec. 23, Nikkei reported. The negotiations hold the potential to create the world's third-biggest carmaker, positioning it better against industry leader Toyota Motor Corp. and others in a tumultuous global market. Honda's shares fell more than 2% in early trading Thursday, while Nissan was trading up by 1% after jumping a record 24% on Wednesday. Honda is weighing several options, according to executive vice president Shinji Aoyama, which include a merger, a capital tie-up and even the formation of a holding company. The alliance could also include Mitsubishi Motors Corp., with which Nissan already has a strategic partnership. Representatives for Honda and Nissan didn't immediately reply to a
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