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Extent of GM stake in Reynolds & Reynolds still pending
Your story "Joined at the Chip" in the September issue says GM acquired a 20% stake in Reynolds & Reynolds.GM hasn't been given any equity to date. When we announced on May 16 that we had signed a memorandum of understanding with GM to form an alliance, both parties agreed that GM would receive 10% equity in Reynolds, but only after execution of a definitive agreement was reached. We have not signed
Paul Guthrie
November 1, 2000
1 Min Read
Your story "Joined at the Chip" in the September issue says GM acquired a 20% stake in Reynolds & Reynolds.
GM hasn't been given any equity to date. When we announced on May 16 that we had signed a memorandum of understanding with GM to form an alliance, both parties agreed that GM would receive 10% equity in Reynolds, but only after execution of a definitive agreement was reached. We have not signed a definitive agreement with GM yet.
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