NEW YORK, April 8 Three bidders remain for
General Motors Corp's (GM.N) Hummer brand, two sources with
knowledge of the matter said, adding that current offers range
from $100 million to $200 million in cash, in addition to other
None of the bidders are automakers. One bidder is from the
United States and the other two are from overseas, the sources
said, adding that the bidders include private equity and
The sources declined to be identified because the details
of the auction are not public.
Under the terms being discussed for the Hummer sale, a
buyer would take over GM's liabilities for its 125 U.S. Hummer
dealers and commit to further investments in areas such as
engineering, marketing and sales, the sources said.
GM's plant in Shreveport, Louisiana, which makes the Hummer
H3, will not be part of the deal, the sources said. Instead, GM
will continue making the H3 there and will supply the vehicles
to the new owner.
GM has recently hired an engineering firm to prepare an
investment plan for future Hummer models to submit to the
remaining bidders for their consideration in shaping final
proposals, the sources said.
(Reporting by Jui Chakravorty; Editing Bernard Orr)