GM bondholder group OK's deal
- NECN
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GM bondholder group OK's deal
DETROIT (AP) - General Motors Corp. said Thursday a committee of bondholders has agreed to a sweetened deal to erase of the automaker's unsecured debt in exchange for company stock. A person familiar with the deal said that it is probable GM will file for bankruptcy protection. The person asked not to be identified by name because discussions are still under way with the U.S. and Canadian governments and there is a small chance that the company could avoid a Chapter 11 filing. The company said in a statement that it offered bondholders 10 read more
NECN | May 28, 2009
