August 27, 2014

Elyria
Partly sunny
77°F
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GM says bondholder panel supports sweetened offer

DETROIT (AP) – General Motors Corp. said Thursday a committee of bondholders has agreed to a sweetened deal proposed by the U.S. government to erase 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 Read More…