Deals Rumor Mill: GM, Essex Property, Men's Wearhouse

Law360, New York (December 4, 2013, 1:30 PM EST) -- General Motors Co. will shed the last of its stake in former lending unit Ally Financial Inc. in a placement worth $900 million, The Wall Street Journal reported on Wednesday. As of the end of September, GM held a 9.9 percent interest in Ally, formerly GMAC. In 2006, the automaker sold a controlling stake in what was then known as GMAC to New York private equity firm Cerberus Capital Management LP.

West Coast apartment owner Essex Property Trust Inc. lobbed a $5 billion takeover bid at...
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