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Greenlight urges GM shareholders to vote for its director nominees
May 4, 2017 / 1:25 PM / 5 months ago

Greenlight urges GM shareholders to vote for its director nominees

May 4 (Reuters) - Hedge fund Greenlight Capital Inc urged General Motors Co shareholders to back its proposal to split the automaker’s common stock into two classes, and vote for its three director nominees to GM’s board at a shareholder meeting next month.

The plan to split GM’s stock could unlock $14 billion-$40 billion in shareholder value, Greenlight manager David Einhorn said on Thursday.

Greenlight Capital, which owns a 3.6 percent stake in GM, nominated three directors to the company’s board last month. (Reporting by Ankit Ajmera in Bengaluru; Editing by Sai Sachin Ravikumar)

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