Honda and Nissan signed a memorandum of understanding to initiate talks for a potential merger that could create the world's third-largest carmaker. The merger, which could include Mitsubishi Motors, aims for a definitive agreement by June and completion by 2026. If successful, the merger would form a holding company valued at $54 billion, or $58 billion if Mitsubishi joins. Honda CEO Toshihiro Mibe emphasized the need for global competitiveness amid rising Chinese competition, while Nissan CEO Makoto Uchida highlighted economies of scale. Analysts cite challenges, including internal resistance and external approvals.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Honda and Nissan signed a memorandum of understanding to initiate talks for a potential merger that
00:07could create the world's third largest carmaker.
00:10The merger, which could include Mitsubishi Motors, aimed for a definitive agreement by
00:14June and completion by 2026.
00:17If successful, the merger would form a holding company valued at $54 billion or $58 billion
00:23if Mitsubishi joins.
00:25For all things money, visit Benzinga.com slash GSTV.