GM in $3.5bn AmeriCredit deal | FT Alphaville

GM in $3.5bn AmeriCredit deal

General Motors has agreed to buy AmeriCredit, a Texas-based vehicle finance company, for $3.5bn in cash, the FT reports. The deal marks GM’s first significant acquisition since its emergence from bankruptcy protection a year ago under the control of the US government. The NYT adds that Senator Charles Grassley questioned GM’s decision to make a big acquisition while most of the money spent on the carmaker’s rescue remained outstanding.