AmeriCredit Shareholders : Almost Zero And Shrink

AmeriCredit Shareholders : Almost Zero And Shrink

The deal, which remains subject to approval by AmeriCredit's shareholders, would give GM a captive finance arm for the first time since it sold off a controlling stake in GMAC in 2006.Thursday General Motors announced that it is intending to acquire the auto finance company in an all-cash transaction. GM wants to buy AmeriCredit for $3.5 billion based on a share value of $24.50. That is a 24% premium over ACF’s closing price of $19.70 Wednesday.The 68-year-old investor said Ben S. Bernanke, chairman of the U.S. Federal Reserve, is taking the right approach in his public remarks on the economy. Bernanke said yesterday that central bankers “remain prepared” to act as needed to aid growth even as they get ready to eventually raise interest rates from almost zero and shrink a record balance sheet.