Spyker Shares Explode after New Saab Offer

Following both the announcement made by GM that it is pulling the plug on Swedish Saab and Spyker's now relentless attempts to take over, the latter's shares soared on Monday in Amsterdam. Oblivious to GM's swinging moods, investors seem to pile up to buy Spyker shares, as they increased by as much as 34.5 percent.

"The stock's value is close to nothing but if they succeed to buy Saab, invest, and turn the company around then the shares can become valuable," an unnamed Dutch analyst told Autonews.

Spyker fueled the fire over the weekend, as it said it is "confident it has put forward a proposal that can convince GM in time."

"Following the announcement on Friday that the intended sales terms of Saab Automobile AB between Spyker and General Motors (GM) could not be finalized, the Spyker leadership has submitted a renewed offer in the hopes of securing a future for Saab, its employees and the brand - despite the announcement that the winding down of Saab would begin," Spyker said in a release.

According to Spyker's CEO, Victor Muller, the revised offer is an 11-point proposal which are aimed to "resolve the issues that were preventing the conclusion of this matter."

GM's reply was better than expected, as the carmaker issued a release saying it is considering "each inquiry."

No matter GM's decision, the bottom line is this: Saab has a chance to live. Economically, GM can only gain from a deal with Spyker, no matter its financial provisions. After all, it is a matter of closing it and earning nothing vs selling it and earning something. Industrially, GM may fear some type of technology-cannibalism, with the future Saab owner using whatever GM tech against it.

Of course, there may be bigger forces at work behind GM's decision to close Saab – after all, the carmaker refused, at times aggressively, to provide a reason for it.