General Motors Shares Rally On Merger News

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General Motors Shares Rally On Merger News

By Zacks Investment Research on October 13, 2008 | More Posts By Zacks Investment Research | Author's Website

General Motors (GM) stepped on the gas on Monday morning and drove up 25% to trade at $6.13 after reports that the biggest U.S. carmaker is in merger talks with Chrylser. The rebound is also in tandem with the broader market that has moved up sharply since Monday morning.

Although analysts doubt whether the merger will translate to any meaningful savings for GM, they agree that the deal will lead to some liquidity for the company. The merger will help reinforce the brand and ensure its stability.

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Posted in Categories: Auto, Contributor, External Research, Stocks, USA.

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