Comment on Bondholders accept GM equity offer, setting stage for bankruptcy

Bondholders accept GM equity offer, setting stage for bankruptcy

Bondholders accept GM equity offer, setting stage for bankruptcy

A majority of bondholders agree to swap their debt for a stake in a reorganized GM, which is expected to file for Chapter 11 on Monday. A majority of General Motors Corp. bondholders have accepted a revised debt-for-stock offer, removing one last obstacle ahead of the automaker's expected bankruptcy filing on Monday.

 

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