GAM Slams ‘Incomprehensibly Low’ Honda Unit Sale Price, Weighs Legal Action

Swiss asset manager GAM Holding AG said the discount price at which Honda Motor Co. is selling a controlling stake in a subsidiary to Samvardhana Motherson International Ltd. is “incomprehensibly low,” as it steps up its opposition to the transaction.

“We are at this time stage considering legal options to stop this deal and seek a higher deal,” GAM Chief Executive Officer Albert Saporta said in an email Wednesday. The firm also sent open letters to Honda and its subsidiary, Yutaka Giken Co., which supplies car parts.