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Investor seeks $8B GM stock buyback, seat on board

2015-02-10 17:22:58| Automakers - Topix.net

" A General Motors stockholder representing four investment funds has told the company he'll seek a seat on its board at the annual meeting this summer and will push for an $8 billion stock buyback to take place next year. Harry Wilson, a former hedge fund manager and one-time member of the Obama administration task force that helped to restructure GM and Chrysler in 2009, disclosed his plans in a meeting with GM CEO Mary Barra on Feb. 3. The company revealed them in a statement issued Tuesday morning and said its board will evaluate the proposals through its normal committee process.

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Category:Automotive

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