Chrysler hedge fund holdouts reject offer-US official

Newswire

WASHINGTON, April 30 (Reuters) - A small group of hedge funds rejected a final opportunity to restructure auto maker Chrysler LLC outside of bankruptcy in negotiations with the U.S. Treasury, an Obama administration offical said on Thursday. U.S. officials had offered Chrysler's secured lenders $2.25 billion in cash in exchange for forgiving their first lien debt, the official said. "Their failure to act in either their own economic interest or the national interest does not diminish the ...

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