General Motors is in discussion with billionaire investor Kirk Kerkorian about giving his company representation on GM’s board of directors.
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Neither GM nor Kerkorian’s private equity company Tracinda added any further comment.
In October Kerkorian increased his stake in GM to nearly 10% by acquiring 2.1m shares of GM common stock on the open market. The average purchase price for the shares was US$26.98 per share, for a total purchase price of approximately US$56m.
