G.M. Reaches Deal

DEVELOPING

Updated Apr. 25, 2017 3:08PM EDT / Published May 28, 2009 6:02AM EDT

General Motors has reached a deal with bondholders, wherein they will take a 10-percent stake in the restructured company in exchange for not opposing bankruptcy, The New York Times reports. According to a regulatory filing, bondholders can then up their stake by 15 percent if the company "rises to a certain level of value." The Times says the concessions were made in exchange for bondholders "not opposing G.M.'s reorganization plan."

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G.M. Reaches Deal