October 2, 2006

GM board to meet as alliance deadline approaches

Wayne State University law professor Peter Henning is quoted in an article about billionaire Kirk Kerkorian's announcement that he will attempt to buy additional shares in General Motor's Corp and will push the company's board to join the Renault-Nissan alliance. Henning, a former SEC attorney, said GM can slow things down for Kerkorian if it doesn't want him to increase his stake in the company. "They don't have to commit themselves, and in fact, they can be cooperatively uncooperative," Henning says. He said approval by the board could take months and that "a lot of this is posturing." The story was picked up by newspapers throughout the U.S. and internationally.

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