GM To Buy AmeriCredit Corporation For $3.5 Billion:The deal is seen as providing more car rental and financing options. The acquisition fills the role once played in the GMAC, in which the company refused as, faced with financial difficulties.General Motors Co. gets back into the credit business, a move that will give its dealers more opportunities leasing and finance for selling cars.
GM said Thursday that it would buy AmeriCredit Corporation in all cash transaction valued at approximately $ 3.5 billion, or about $ 24.50 per share.
The acquisition gives the GM, which is known as "captive finance unit, or lending division, which allows it to offer more flexible lease and financing transactions. It would fill the role once played in the GMAC, that the automaker refused to control, as she ran into financial trouble.
"The addition of AmeriCredit to our team will enhance our competitiveness in offering auto financing, and I am very glad to have them on board," said Ed Whitacre, chief executive GM.