Facing Cash Crunch, GM Lobbies US For $10B

Law360, New York (October 28, 2008, 12:00 AM EDT) -- General Motors Corp. is reportedly seeking about $10 billion in funds from the U.S. government to back its bid for a merger with Chrysler LLC.

The massive aid package would include an injection of $3 billion in shares in the merged automaker, according to a Reuters report Tuesday, which cited unnamed sources familiar with the matter.

GM spokesman Greg Martin declined to say whether the company had sought the government's help, but did not deny the merger talks, saying that GM talked to other automakers “from...
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