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http://www.cleanmpg.com/photos/data/2/European_Union_Flag.jpg Koenigsegg has not elaborated why they are backing out of the deal. (http://www.cleanmpg.com/forums/showthread.php?t=27069)

http://www.cleanmpg.com/photos/data/501/Saab_93_rotating.gifChuck Thomas - CleanMPG (cleanmpg.com) - Nov 24, 2009

Many may view GM's purchase of Saab twenty years ago as a kiss of death.

General Motors confirmed today that the proposed sale of its Saab subsidiary to Koenigsegg Group AB was terminated at the discretion of the buyer.

"We're obviously very disappointed with the decision to pull out of the Saab purchase," said GM President and CEO, Fritz Henderson. "Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week."

Bloomberg says a shutdown is possible:

http://www.bloomberg.com/apps/news?pid=20601085&sid=a80G3mKhm0u0

“It is surprising,” George Glassman, dealer principal of Glassman Saab in Southfield, Michigan, said of Koenigsegg’s exit. “It is not what I had hoped to hear, but I believe it’s a dead issue. In the interim, if you know of a McDonald’s, Burger King or Dunkin’ Donuts that would like to occupy my showroom, let me know.”

It's looking like there were financing problems.

That and Saab's market share is getting even smaller.

That's too bad. I was really looking forward to a miniaturized CCX with an Aero badge.

GM is eating humble pie: the Saturn sale collapsed, the Hummer sale probably will go forward, they got a black eye when they decided not to sell Opel in Europe.

Next week they decide what to do about Saab, but earlier this year they were doing to let them die.

The only hope for Saab is Beijing Automotive Industry Holdings makes an independent bid (they were partners with Koenigsegg).

Beijing Automotive Industry (http://www.detroitnews.com/article/20091128/AUTO01/911280312/1148/AUTO01/3-show-interest-in-Saab-deal#) Holding Co., Merbanco Inc. and Renco Group Inc have expressed interest but have not made a proposal to GM.

It's over - SAAB is liquidating > http://www.msnbc.msn.com/id/45720823/ns/business-autos/#.Tu9jXNQS01M