Thursday, May 28, 2009

G.M. Reaches a Deal With Bondholder Committee - DealBook Blog - NYTimes.com

WOW! GM Bondholders reached a deal! SHOCKED.

They get 10% plus warrants to buy more shares.

G.M. Reaches a Deal With Bondholder Committee - DealBook Blog - NYTimes.com:
"General Motors said in a regulatory filing on Thursday that it has proposed a new deal to a committee representing many of its largest bondholders, offering up to a 25 percent stake in exchange for not opposing G.M.’s reorganization plan"

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