NEW YORK (Reuters) - General Motors on Thursday defended the information it gave to credit ratings agencies regarding Greenlight Capital’s dual share plan, saying the company’s term sheet had complete and accurate information.
The defense was part of a broader release responding to the escalating battle with Greenlight, and came just after the hedge fund posted a copy of the structure’s original ratings agency term sheet and the sheet it said was given by GM to the agencies.
Greenlight posted a third annotated term sheet highlighting changes from the original.
“Our plan does not have cumulative dividends,” Greenlight said in one of the annotations highlighting a change.
Reporting by Michael Flaherty; Editing by Chizu Nomiyama