Extent of GM stake in Reynolds & Reynolds still pendingExtent 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