
GM Reportedly Mulling Two Hummer Offers
DETROIT (
) --
General Motors
is mulling two long-shot offers for Hummer after a deal to sell the line to China's
Sichuan Tengzhong Heavy Industrial Machinery
collapsed this week, the
Wall Street Journal
reports.
The two offers previously were turned down by GM in favor of a deal with Tengzhong, a source familiar with the matter told the
Journal
. The newspaper didn't name the bidders.
General Motors is giving the bidders a fresh look after
Tengzhong failed to win approval
from Chinese regulators for its bid, the source said. GM is willing to consider even a long-shot deal if it comes with adequate financing, the person added.
Tengzhong had planned to pay $150 million for the Hummer brand, the
Journal
says.
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