Opel deal not dead despite GM reluctance

General Motor's board turned down a German-supported deal for Canadian company Magna to buy Opel. GM's management supported the transaction which makes the board's action unusual.

It is hard to say why the board made the decision. It said it needed to know more about Magna's financial support, but since a deal could not close without that, it would seem academic.. The board's action may simply be its way of saying it wants a better price.