Hyperdrive
Nissan Shares Rise as Honda Exit Opens Door to Other Suitors
- Stock gains as much as 8.4% with Foxconn, KKR in the picture
- Honda needs scale to compete, Nissan a financial lifeline
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Nissan Motor Co. shares rose Friday as the official end of talks with Honda Motor Co. opened the door to other potential suitors including Hon Hai Precision Industry Co. and private equity giant KKR & Co.
The automaker’s stock rose as much as 8.4% in Tokyo trading, as investors looked past another profit downgrade and the end of discussions about a tie-up with rival Honda to focus on other possible saviors for the struggling company. Honda gained as much as 4.5%.