GM Looking for Warren Buffet-Style Investor, Report Says
October 22, 2008
General Motors is looking for a large investment from outside investors similar to the investment Warren Buffett made in General Electric and Goldman Sachs, the Financial Times reported Tuesday.
But the paper cited an unnamed banker as questioning the chances of GM finding an investor to do so.
A source briefed on the matter has told Reuters that representatives of GM and Chrysler's majority owner Cerberus Capital Management have approached at least one major investor with a pitch to invest in their deal. But the pitch for a capital injection for a merged automaker that would control about a third of the U.S. light-vehicle market was met with "a great degree of apprehension," the source said.
Posted by Michelle Krebs at 5:18 AM under Business , Chrysler , GM , Personalities , Rumors | Comments (0) | digg this | Seed Newsvine
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