DETROIT, March 27 (Reuters) - General Motors Corp has offered to convert half of a $20 billion funding obligation to a union-aligned retiree healthcare trust into preferred stock, business television station CNBC reported on Friday. GM has offered the United Auto Workers union $10 billion in cash, amortized over 20 years, and $10 billion of preferred stock with a 9 percent coupon, to fund the healthcare trust, CNBC reported. Under the terms of GM's $13.4 billion government bailout, the ...
Premium Content (PAID Subscription Required)
"UPDATE 1-GM offers UAW $10 bln in prefered stock" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.