Delayed: General Motors Pushes Back IPO

Automobile Staff
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Although it was rumored that General Motors might file for an initial public stock offering as early as today, interested investors are going to have to wait -- at least until next week.

According to Reuters, GM will hold off until next week, at the earliest, to announce its IPO, rumored to be the largest in U.S. history. While specific causes were not named, we expect it might have something to do with yesterday's news of CEO Ed Whitacre's upcoming departure from the company (and not just because of superstition).

Having recorded impressive numbers so far this year, GM's announcement is highly anticipated. It will be the second major automaker to file for an IPO this summer, after electric vehicle manufacturer Tesla.

Stay with Automobilemag.com for updates, and check back for the full story.

Source: Reuters

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