United Auto Workers President Dennis Williams, whose union indirectly controls the largest single block of General Motors Co (GM.N) shares, told Reuters an investor group’s proposal that GM buy back $8 billion of its stock is premature, and the amount too high for the company’s long-term health.
Breaking News
Italian automaker Fiat SpA has agreed to buy the remaining stake of Chrysler Group held by the United Auto Workers retiree healthcare trust, paving the way for both carmakers to finally merge.
The Fiat-VEBA deak was expected because of the absence of top executives in the Frankfurt Auto Show.
Fiat's options to purchase VEBA shares is in dispute as to the valuation of the shares.
Fiat SpA can technically head off the Chrysler IPO through a buyout according to its CEO Sergio Marchionne.
Subscribe to VCpost newsletter
Most Popular
- SSI Payment for May 2024: Supplemental Security Income Recipients to See Double Amount in Payout
- Doctors Raise Concerns Over Proposed Capital Gains Tax Changes
- How to Apply for Social Security Spousal Benefits; Here's How You May Boost Your Money!
- How to Get IRS Unclaimed Tax Refunds: Here's What to Do If You Think You Have Pending Payments
- Celebrity Designer Nancy Gonzalez Jailed for Smuggling Crocodile, Python Handbags
- Kroger and Albertsons to Sell off 166 Stores in Effort to Gain Approval for Their $25 Billion Merger
- Illinois Woman, Who Mysteriously Drowned After Giving $1.5 Million to Online Romance Scammers, Knew She'd 'End up Dead'
- Can Science & Spirituality Be Bridged? Dr. Lenore Matthew Says Yes!
