Asia-Pacific markets started the holiday-shortened Christmas week on a positive note, with investors awaiting the official announcement related to the merger of Japanese automakers Honda and Nissan.
The presidents of Honda, Nissan and Mitsubishi have informed Japan’s industry ministry about entering into merger talks, Kyodo News reported Monday. They are expected to hold a press conference Monday afternoon, according to a Google translation of the report in Japanese.
Honda and Nissan are expected to hold board meetings Monday “to discuss entering into full-scale discussions toward a business integration, and then to sign a memorandum of understanding,” according to public broadcaster NHK.
The companies, which aim to reach a “final agreement” in June 2025, are considering setting up a new holding company with a Honda executive leading it, NHK said.
Shares of Honda were 2.11% up, while Nissan shares slipped 0.74%.
Nissan shares saw a record surge last Wednesday, following a media report that the struggling Japanese automaker was looking to merge with Honda.
Content retrieved from: https://www.cnbc.com/2024/12/23/asia-markets-live-nissan-honda-merger-singapore-cpi-in-focus.html.
