- Fisker is reportedly in talks with four automakers about a possible acquisition to avoid bankruptcy.
- The company recently missed a debt repayment, was delisted from the NYSE and is facing a challenging market environment.
- A previous takeover attempt with Nissan reportedly failed, highlighting the need for a new partner.
Henrik Fisker, the CEO of the struggling electric car brand that bears his name, reportedly met with employees on Thursday to tell them that the company is in talks with four automakers about a possible acquisition. This could be the only way to save the brand after several months of market decline. Several automakers could benefit from acquiring Fisker, but only at the right price.
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However, the deal may not happen quickly. “We still have some time to get more offers for Fisker. We have four car manufacturers that have signed NDAs. However, they obviously need time to start doing the due diligence,” he said, according to a recording of the event seen by Business Insider
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These statements come shortly after Fisker announced that the company could file for bankruptcy protection within a month if it doesn’t find an investor. There’s a lot to sort out, but among other things, the company recently missed an $8.4 million debt repayment, hired a restructuring agent, and was delisted from the NYSE because its stock price was below $1 for more than 30 days had fallen. Despite these challenges, Fisker appears to be waiting for the right acquisition deal, not just the first one available.
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According to Business Insider’s report, the CEO told employees that he rejected an offer that wasn’t “sufficient.” Although this has not been confirmed by either Fisker or Nissan, rumors suggest that the two were already in intensive discussions before things fell apart last month. There is currently no information about who the four new applicants for Fisker might be.
It’s no secret that the current market correction is creating major challenges for electric car manufacturers, not to mention struggling startups like Fisker. Any potential acquisition of Fisker would need to be carefully evaluated to ensure it is a worthwhile investment. While Nissan’s interest remains uncertain, other companies may see an opportunity for a bargain deal given Fisker’s circumstances.
However, whether these options will be enough to ensure Fisker’s survival remains to be seen.
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