Ford Denies Acquisition Plans for BMW Amid Speculation

Ford President Jacques Nasser emphasized the automaker's commitment to its independence, ruling out any potential acquisition of German counterpart BMW AG. Nasser, however, stopped short of confirming or denying a report that Ford is about to hire former BMW board member Wolfgang Reitzle as head of global development. Reitzle's resignation from BMW in a recent management shake-up has sparked industry speculation about the company's future, including possible merger or acquisition by a larger automaker like Ford or General Motors Corp.

Key Takeaways:

Ford President Jacques Nasser declined to rule out a possible acquisition of BMW AG, but emphasized his belief in the company's independence.
Nasser refused to comment on a German news report that Ford was about to hire former BMW board member Wolfgang Reitzle, citing the need to protect Reitzle's negotiating position.
Reitzle, who headed markets and product development for BMW, resigned in a management shake-up that also resulted in Chairman Bernd Pischetsrieder's ouster.
Nasser attributed BMW's difficulties to the Rover acquisition, which has been a "tremendous digestive problem" for the company.
Ford has dismissed speculation about a potential merger or acquisition of BMW, suggesting that the German company is merely undergoing a change in strategy.
Wolfgang Reitzle was considered the next in line to lead BMW, but his resignation has led to widespread industry speculation about the company's future.

Statistics:

1: The number of photo accompanying the article featuring Ford President Jacques Nasser.
2: The ranking of Ford as the world's No. 2 automaker.
1: The number of potential mergers or acquisitions that BMW is allegedly seeking, according to industry speculation.
Friday: The day when Reitzle resigned as head of markets and product development at BMW.

Sources:

VWD (German news agency)
Quote from Ford President Jacques Nasser, Chicago Auto Show, Wednesday