REPORT: U.S consortium now in lead for Volvo purchase
 

<p>Filed under: <a href="http://www.autoblog.com/category/china/" rel="tag">China</a>, <a href="http://www.autoblog.com/category/ford/" rel="tag">Ford</a>, <a href="http://www.autoblog.com/category/volvo/" rel="tag">Volvo</a>, <a href="http://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a>, <a href="http://www.autoblog.com/category/rumormill/" rel="tag">Rumormill</a></p><a href="http://online.wsj.com/article/SB10001424052748703735004 574572181921961104.html?m od=WSJ_hpp_sections_busin ess"><img vspace="4" hspace="0" border="0" alt="" src="http://www.blogcdn.com/www.autoblog.com/media/2009/12/volvo-badge.jpg" /></a><br /> <br /> Just about a month ago, news hit the interwebs that Chinese automaker Geely officially became <a href="http://www.autoblog.com/2009/10/28/ford-officially-confirms-chinas-geely-as-preferred-bidder-for-v/">Ford's preferred bidder</a> for Volvo once <a href="http://www.autoblog.com/2009/10/23/report-geelys-plans-to-buy-volvo-from-ford-unravelling-over-in/">concerns over intellectual property</a> were sorted out. Today, though, we're hearing that Crown, a consortium led by former Ford director Michael Dingman, former Ford and Chrysler LLC executive Shamel Rushwin and ex-Volvo CEO Roger Holtback, is gaining momentum in its bid for the Swedish automaker after submitting a revised proposal.<br /> <br /> If reports from <em>The Wall Street Journal</em> and <em>Reuters</em> are accurate, Crown's new bid is "on par" with Geely's $1.8 billion offer and is backed by both Swedish and Chinese investors and banks. Not surprisingly, Ford has yet to comment on the speculation, though it has said that talks with Geely are already at an advanced stage. Stay tuned.<br /> <br /> [Sources: <a href="http://online.wsj.com/article/SB10001424052748703735004 574572181921961104.html?m od=WSJ_hpp_sections_busin ess">The Wall Street Journal</a>; <a href="http://www.reuters.com/article/ousivMolt/idUSTRE5B20UY20091203">Re uters</a>]<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2009/12/03/report-u-s-consortium-now-in-lead-for-volvo-purchase/">REPORT: U.S consortium now in lead for Volvo purchase</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Thu, 03 Dec 2009 15:40:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://online.wsj.com/article/SB10001424052748703735004 574572181921961104.html?m od=WSJ_hpp_sections_busin ess>Read</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/12/03/report-u-s-consortium-now-in-lead-for-volvo-purchase/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/19263915/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/12/03/report-u-s-consortium-now-in-lead-for-volvo-purchase/#comments" title="View reader comments on this entry">Comments</a>

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