Reuters logo
BRIEF-Greenlight Capital proposes GM change capital structure
March 28, 2017 / 2:41 PM / 8 months ago

BRIEF-Greenlight Capital proposes GM change capital structure

March 28 (Reuters) - Greenlight Capital:

* Greenlight Capital proposes GM change capital structure to “unlock substantial shareholder value”

* Plan would split GM’s common stock into two classes

* One class of GM stock would get current dividends, other class would participate in remaining earnings, cash flows, future growth of company

* Adopting plan would lower GM’s cost of capital, improve financial flexibility, unlock between $13 billion and $38 billion of shareholder value

* Greenlight Capital’s David Einhorn says “as significant, long-term shareholders, we believe in GM’s strong earnings potential” Source text for Eikon:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below