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A last-minute deal to save Swedish brand Saab from being shut down is unlikely, the head of General Motors said Wednesday.
GM extended a deadline to consider offers for Saab last month after Dutch sports car maker Spyker approached the US automaker with a last ditch proposal.
But GM chairman and chief executive officer Ed Whitacre told reporters that he was "not confident" a deal could be made "given what's happening here and the speed with which it's moving."
"It's real easy, just show up with the money and you can have it," Whitacre said. "But nobody's shown up with the money so we're in wind-down mode here."
