General Motors To Acquire AmeriCredit (ACF)

On July 22, 2010 General Motors announced an agreement to acquire AmeriCredit Corp. (NYSE: ACF) in an all-cash transaction valued at approximately $3.5 billion.

Under the terms of the agreement, which has been approved by both companies' boards of directors, at closing, AmeriCredit shareholders will receive $24.50 in cash for each share of stock held as of the transaction closing date.

The transaction is expected to close by the end of the fourth quarter of 2010, pending certain closing conditions, including the approval of AmeriCredit shareholders.

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