Nissan’s board is planning to reject Honda’s terms for a combination of the two automakers, putting in danger a merger plan announced less than two months ago, people familiar with the matter said Wednesday.

There's strife of the horizon as Nissan vehemently opposes Honda's suggestion of making the struggling carmaker its subsidiary.

Shares of Nissan Motor Co. and Honda Motor Co. rose overnight following reports that the automakers’ proposed merger may be scrapped.