The talks between General Motors and Renault-Nissan are over. The CEOs of both companies agreed over a phone conservation that there was no hope for an alliance and that the two companies couldn’t come to an agreed value for any synergies. Reports have been circulating that there was internal resistance from GM towards the deal and a recent demand for a payment also by GM only worsened the situation.

Everyone knew the break-off was coming and the fact was further echoed when yesterday, GM amended the company’s bylaws to prevent major shareholders from rallying other investors to pressure management. The move would also thwart Tracinda Corp’s Kerkorian, who already owns 9.9 percent of GM, from gaining more influence.