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GM's emergency meet with lenders

General Motors was in emergency discussions with its lenders at the weekend, reports The Sunday Times.

The company's chief executive Rick Wagoner is trying to sort a deal by tomorrow to secure £7.8 billion ($12 billion) in financial aid from the US government.

Wagoner is attempting to persuade some of its debt holders to swap part of the firm's $43 billion (£28 billion) debt pile for shares, to bolster their balance sheet. 

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