CORRECTED - UPDATE 2-GM bondholder deadline passes; focus now on Ch. 11

Newswire

* GM's board meets to review options * Bondholders had until 5 p.m. EDT/2100 GMT to take deal * GM expected to file for bankruptcy on Monday (Corrects recent quarterly cash burn in second-last paragraph) By Poornima Gupta and Kevin Krolicki DETROIT, May 30 (Reuters) - General Motors Corp on Saturday finished a key piece of business before a bankruptcy filing planned for Monday as the deadline for bondholders to accept an exchange offer brokered by the Obama administration expired. ...

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