Shortly after reports surfaced that Nissan had rejected Honda’s proposal to make it a subsidiary, sources familiar with the matter revealed Wednesday that Nissan is now preparing to walk away from $60 billion merger talks with Honda, according to Kyodo News. If completed, the deal would have created the world’s third-largest automaker.. However, the situation remains uncertain—The Washington Post reports that no final decision has been made to scrap the merger. As the situation unfolds, we’ll continue to provide updates as new details emerge.
There’s another twist in the tale for the proposed merger between Japanese automotive juggernauts Nissan and Honda. Soon after it was revealed that Nissan may have to triple its profits for the merger to get the green light, it’s been revealed that Honda has proposed buying shares of Nissan and turning the struggling brand into one of its subsidiaries.
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