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Honda and Nissan Confirm Merger Plans -- Barrons.com

Dow Jones2024-12-23

By Elsa Ohlen

Japanese auto makers Honda and Nissan on Monday confirmed plans to merge.

The car companies signed a memorandum of understanding to explore synergies and integrate their businesses through establishing a joint holding company, they said in a joint statement Monday. Reports of merger talks surfaced last week.

"At this time of change in the automobile industry, which is said to occur once every 100 years, [...] we will be able to become a leading company in creating new value in mobility through business integration," said Honda CEO Toshihiro.

They plan to complete the merger in August 2026, according to the statement.

Honda's American depositary receipts were rising 15% in premarket trading.

This is breaking news. Check back for more analysis soon.

Write to Elsa Ohlen at elsa.ohlen@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

December 23, 2024 05:14 ET (10:14 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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