if it is true, I don't really see that much of a problem with it. Of all the Japanese automakers, Nissan would be the best. They have the most progressive, inspired designs instead of looking like an appliance (ahem, Honda, Toyota), they actually have some idea how to build a truck (Honda lol), and they have a LONG and successful history in competitive motorsports.
I think a Nissan Titan built on an F-150 platform and a Mustang build on a 370Z/GTR/G37 platform could the best thing that's happened to either of them. A 4.6L mod V8 shoehorned into a 4-seat version of a 370Z with Mustang-styled bodywork would be 400lbs lighter than the current Mustang and have independent rear suspension, and the entire chassis could be built by a much more efficient and cost effective assembly process. The new Camaro wouldn't stand a chance, nor anything else build on this side of the planet.