GM Shares Dip One Day After Kerkorian Offer

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GM fell on Thursday, a day after billionaire Kirk Kerkorian sent a shock through the shares by offering to invest nearly $870 million in the ailing automaker.


Shares of GM fell $1.89, or 5.8 percent, to $30.91 in mid-afternoon trading Thursday. They had soared 18.1 percent Wednesday when Kerkorian’s Tracinda Corp. offered to pay almost $870 million for a 5 percent stake, boosting Tracinda’s holdings to about 9 percent and making Kerkorian one of GM’s largest shareholders.


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