#MergersAndAcquisitions

As Renault and Nissan discuss ways to strengthen their bond, Carlos Ghosn is asking everyone to slow their roll on the prospect of a merger. Despite continuously nudging the alliance in that direction, the CEO and chairman is often hesitant to discuss unification as anything more than a hypothetical. So this is par for the course.

“I don’t think you’re going to see it this year or next,” Ghosn said on Wednesday. “Lots of mergers collapse and destroy value — the strength of any company is the ability to motivate people, and how how are you going to do that if some of these people consider themselves second-class citizens.”

The second-class citizens he’s referencing are, presumably, Nissan employees seeking more influence within the Renault-Nissan-Mitsubishi Alliance. A large part of the group’s current strategy is to find ways to give the Japanese automaker more of a say in product development and operations.

Carlos Ghosn, chairman of the Renault-Nissan-Mitsubishi Alliance, has made it clear that his ideal solution for all three automakers is to stop pussyfooting around and enter into a full-on merger. Officially, there’s no deal in the works. “Any discussion about a share transaction involving Renault, Nissan or the French state is pure speculation,” explained alliance spokesman Jonathan Adashek earlier this month.

Unofficially, things are quite different. Renault and Nissan are both committed to maintaining a healthy and strong relationship, but the French government is hesitant to even suggest the possibility of abandoning its stake in Renault. For political reasons, it can’t seem as if the company is being relinquished to Japanese interests vis-à-vis a corporate takeover. Therefore, an accord has to be reached to provide Renault with some level of autonomy — or a lie has to be crafted to make it look that way.

While Ghosn previously denied any possibility of a merger, he began claiming it was a very real possibility this year. Having already developed a structure that would see management of Renault, Nissan, and eventually Mitsubishi Motors overseen by a Dutch foundation based in Amsterdam, the chairman suggested it (or something like it) could also serve as a mediator for their integration as a singular global automotive group. But the French Ministry for the Economy and Finance said that wouldn’t be a possibility. So what’s the solution?

Baby steps.

In what is almost certainly going to be little more than a faint memory in the minds of devoted readers at AmericasJeepLovers.org, the potential relationship between Wang Fengying’s Great Wall Motors Co. and Sergio Marchionne’s Fiat Chrysler Automobiles has taken a turn for the less likely already.

It seems like years ago — no, wait, it seems like yesterday — that Great Wall Motors Co. publicly declared its viability as a suitor for FCA Jeep, the most important, highest-value, primary source of desirability within the FCA family. Jeep, you’ll recall, is likely worth substantially more on its own than the whole of FCA, Jeep included. This explains why it came as no surprise that Great Wall Motors or any other automaker would express an interest in purchasing Jeep from FCA. With huge global potential for a hugely popular brand that hasn’t yet tapped many open markets, Jeep has reach.

But does Great Wall even have the money? Would FCA even entertain the idea of selling off its most valuable component? And is there even any hope of negotiation?

In the week that’s elapsed since initial reports surfaced of a Chinese automaker planning a takeover of Fiat Chrysler Automobiles, Geely, Dongfeng, and Guangzhou Automobile Group have all taken themselves out of the running.

Automotive News now reports, however, that the seventh-largest automaker in China, Great Wall Motors Company, has a keen interest in FCA, which has long courted unwilling suitors.

There’s one outstanding issue. Great Wall Motors Co. is open about its desire to acquire Jeep as part of a mission “to become the world’s largest SUV maker,” but Great Wall doesn’t want FCA’s other, far less valuable entities.

Fiat Chrysler Automobiles CEO Sergio Marchionne has been hoping to sell the company to the right kind of buyer for a while now. But, with no serious contenders, FCA has been forced to trudge onward into the future without a bonafide suitor.

That’s rumored to have changed, as numerous sources are claiming Chinese automakers have taken an interest in the Italian-American company. However, whether these are potential one-night stands or a serious courtship remains unknown. Marchionne has previously specified he only wants to see FCA enter into the warm embrace of an established automaker and, while China has them, some would be better partners than others.

Iconic British sportscar manufacturer Lotus may find a portion of its future production shifted to China under the ownership of its new parent company, Geely. Chinese billionaire and Geely chairman Li Shufu confirmed the possibility of some assembly taking place outside the United Kingdom during a press conference following the signing of the deal.

While this could stir outrage in some traditionalists, the Chinese company hasn’t mucked up things with Volvo yet and appears willing to apply a similar hands-off approach to the management of Lotus Cars.