Global automotive supplier GAM has rejected Motherson’s bid for Honda unit Yutaka Giken, citing concerns over the offer price and potential regulatory hurdles. Motherson had made a $1.6 billion offer for the unit, which GAM believes undervalues the business. The proposed acquisition would have expanded Motherson’s presence in the Japanese market.

Read more at Investing.com: GAM pushes back on Motherson’s bid for Honda unit Yutaka Giken