Honda, Nissan end merger talks as disagreements deepen
Honda Motor Co. and Nissan Motor Co. have decided to terminate discussions on a potential merger, ending the restructuring attempt to create one of the world’s largest automotive groups.
Both companies held board meetings on Thursday, where they agreed to withdraw the basic agreement signed in December 2024 and officially end merger discussions, according to local media reports.
Honda will hold an online press conference at 4:50 p.m. local time (0750 GMT) to discuss the details of the decision.
The two companies initially focused on forming a holding company that would oversee both brands.
However, the negotiations stalled over the shareholding structure as tensions escalated when Honda proposed making Nissan its subsidiary, an idea Nissan strongly opposed.
According to the reports, Honda has been pushing Nissan to accelerate its restructuring efforts.
In November 2024, Nissan announced plans to cut 9,000 jobs worldwide and reduce its global production capacity by 20 per cent after reporting a more than 90 per cent drop in net profit.
(Xinhua/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
World
20 injured as car crashes into crowd in Munich
A fire brigade spokesman said some of those affected sustained life-threatening injuries.
World
Turkey’s current account deficit widens
The current account shortfall rose to $4.65 billion from $1.7 billion in the corresponding month of the previous year.
States
Siblings arraigned for allegedly slapping 2 women
The defendants pleased not guilty to the charges preferred against them..
Anti-Corruption
Court adjourns Ganduje, wife’s alleged bribery, looting case until April 15
The presiding judge, Justice Amina Adamu-Aliyu, granted all the applications for an extension of time.
States
New NUP chair promises to reconcile aggrieved Benue pensioners
The chairman stated that the reconciliation was imperative to calm frayed nerves following the just-concluded elections.
World
Former Google boss warns of extreme risk of terrorists using AI
A former chief executive of Google, Eric Schmidt, has warned about the extreme risk from terrorists or rogue states using artificial intelligence.
