GM: But Barra rejection has not stopped FCA boss Sergio Marchionne working on a merger plan, according to the sources, according to Euro News. He is lobbying GM investors in an effort to drag the GM board to the negotiating table, they said. GM is being advised by Goldman Sachs , while FCA is working with UBS
on the matter, several sources said, with one adding that Morgan Stanley was also working with GM. GM board rebuffed a merger proposal from the Italian-American carmaker earlier this year and Chief Executive Mary Barra said last week she had no interest in a combination. GM signed a letter of engagement with Goldman Sachs earlier this week seeking advice on FCA, one of the sources said. When asked about the matter, he said: It would be inconceivable for General Motors not to be talking to any number of advisers about normal business operations, but I’m not going to list the issues one by one. GM Senior Vice President Tony Cervone did not confirm that his company was retaining Goldman Sachs or Morgan Stanley specifically on the FCA merger approach. (news.financializer.com). As reported in the news. Tagged under GM, Sergio Marchionne topics.