GM Unveils Mammoth $27B Exchange Offer

Rozens, Aleksandrs
May 2009
Mergers & Acquisitions Report;5/4/2009, Vol. 22 Issue 18, p41
The article reports on an exchange offer unveiled by General Motors that trades 27 billion U.S. dollar worth of debt for equity. According to the company, it anticipates to seek bankruptcy relief if the exchange offer is not completed. The best path for the future success of the company will be provided by the exchange offer. Under the exchange offer, bondholders will own 10 percent of the company after the exchange offer has been completed.


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