Japanese automakers Nissan Motor Corp. and Honda Motor Co. have confirmed that they are discussing closer collaboration but denied reports they have decided on a merger. Nissan's share price soared more than 22% after reports citing unnamed sources said it might merge with Honda to form the world's third largest automaking group. Trading in Nissan's shares was suspended in Tokyo but then resumed after the companies issued a statement that said they were “considering various possibilities for future collaboration, but no decisions have been made.” Honda’s share price sank 2.3%. Nissan has an alliance with Renault SA that is under review. It recently announced it was slashing 9,000 jobs and cutting its global production by 20%.
