Honda shares set for best day in more than 16 years on share buyback plan, Nissan deal
A sign marks the location of a Honda dealership in Libertyville, Illinois, on Dec. 18, 2024. Scott Olson | Getty Images Shares of Japanese automaker Honda were on track for their best day in 16 years after it announced to buy back up to 1.1 trillion yen ($7 billion) of its shares on Monday amid merger talks with Nissan . Nissan and Honda said they had begun official negotiations to merge , which could catapult them to the world’s third-largest carmaker by sales. Honda also announced to buy back 24% of its issued shares by Dec. 23 next year. Its shares were last up 15.51%, and would clock their best day since October 2008, if gains hold. Nissan shares fell over 1%. The Honda-Nissan deal would focus on sharing knowledge and resources, achieving economies of scale and creating synergies, Honda CEO Toshihiro Mibe said . A holding company will be established as the parent organization for both Honda and Nissan, and will be listed on the ...