Nissan Motor Co. pursuing a deal with Honda Motor Co. indicates the former is in “panic mode,” according to Carlos Ghosn, the ex-chairman of the struggling Japanese automaker.
“It’s a desperate move,” Ghosn says in an interview with Bloomberg's Manus Cranny. “It’s not a pragmatic deal because frankly, the synergies between the two companies are difficult to find.”
Honda confirmed this week it’s considering several options including a merger, capital tie-up or establishment of a holding company with Nissan. While Hon Hai Precision Industry Co. also has shown interest in Nissan, the Taiwan-based manufacturer of iPhones known as Foxconn is putting its pursuit on hold, Bloomberg News reported earlier Friday.
Nissan and Honda operate in the same markets with similar brands and products, Ghosn said, casting doubt on the merits of the two combining. He believes Japan’s Ministry of Economy, Trade and Industry has pushed Honda to go forward with a deal.
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