Renault executives travelled to Japan this week to meet counterparts at Nissan in an effort to maximise the value of the French automaker's stake in the Japanese firm ahead of its merger with Honda, a source close to the matter told Reuters.

As talks between the automakers continue, analysts say a combination makes sense but may face hurdles, including short-term financial hardship.

Nissan was deep in the trenches, with its existence at stake, but Honda's timely entry gave it a positive direction. Here's how everything went down.

Japan's Mitsubishi Motors, a junior partner of Nissan Motor, is considering not joining a planned merger between Nissan and Honda Motor, sources told Reuters on Friday. Mitsubishi Motors plans to remain listed while continuing its cooperative relationship with both companies,

After the merger is completed, Honda-Nissan is set to become the world’s third-largest carmaker by overall sales

Honda is eager to ensure there's no foreign influence on its merger with Nissan, especially since Taiwan's Foxconn has been eyeing the ailing brand

Honda and Nissan signed a memorandum of understanding (MoU) to begin discussions on a potential business integration.

Honda, Nissan, and Renault's merger may take on a new direction, per Bloomberg. According to the outlet, Honda is worried that Renault, which owns about 35 percent of Nissan, may be bought up by a third party while the deeply complex merger works its way toward completion.