Update: As most of you already figured out, this is indeed an April Fool’s post. Carlton Reid of Bike Biz, Fritz, Arleigh and I were all in on it from the beginning… about two weeks ago. It was all in good fun… seems even Mike Sinyard got a laugh out of it.
General Motors has announced the acquisition of Specialized Bicycle Components. The boards of directors of both companies approved the acquisition on Friday. The acquisition is expected to be completed in the third quarter of 2008 pending regulatory approval in the US, Canada and Europe. Terms of the all-share acquisition from Specialized Founder and President Mike Sinyard and Merida of Taiwan were not disclosed.
So the behemoth car company buys one of the biggest bike companies? What do you think this means for the likes of General Motors? Is it any more than a PR move to make themselves look more ‘green’?