Japanese office workers look at Renault cars on display outside the French automaker's showroom in...

Japanese office workers look at Renault cars on display outside the French automaker's showroom in Tokyo March 17. Renault bid on Tuesday for a controlling stake of Japan's Nissan Motor in a $5.3 billion deal to create the world's fourth-largest auto group, Renault and sources close to the talks said on Tuesday. Traders and analysts said the proposal may provide Nissan a quick infusion of cash to write off part of its staggering 2.13 trillion yen (US$17.9 billion) in liabilities, but won't give Renault enough control to hammer through needed reforms in the struggling Japanese company. Nissan described the offer as a positive development and has committed to negotiating solely with Renault.