GM Close to Bankruptcy After Debt Exchange Offer Fails
Posted by on May 27, 2009 under Auto News | 
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Bondholders have rejected a debt exchange offer from General Motors that expired at midnight last night, the automaker said today, moving the company closer to a bankruptcy that could result in the U.S. and Canadian governments owning three-quarters of its stock.
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GM Close to Bankruptcy After Debt Exchange Offer Fails
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