Shareholders Approve AmeriCredit Corp. Transaction with General Motors
29 September 2010 - 4:10PM
Business Wire
AMERICREDIT CORP. (NYSE: ACF) shareholders today voted in
favor of the company’s acquisition by General Motors. With more
than the required 66-2/3 percent of AmeriCredit issued and
outstanding shares voted in favor of the transaction, the merger is
now expected to close effective October 1, 2010. The votes were
reported at a shareholder meeting held today at AmeriCredit
headquarters in Fort Worth. Representatives of IVS Associates, Inc.
tabulated the votes and acted as independent inspectors.
About AmeriCredit
AmeriCredit Corp. is a leading independent automobile finance
company that provides financing solutions indirectly through auto
dealers across the United States. AmeriCredit has about 800,000
customers and approximately $9 billion in auto receivables. The
Company was founded in 1992 and is headquartered in Fort Worth,
Texas. For more information, visit www.americredit.com.
About General Motors
General Motors, one of the world’s largest automakers, traces
its roots back to 1908. With its global headquarters in Detroit, GM
employs 208,000 people in every major region of the world and does
business in more than 120 countries. GM and its strategic partners
produce cars and trucks in 31 countries, and sell and service these
vehicles through the following brands: Buick, Cadillac, Chevrolet,
FAW, GMC, Daewoo, Holden, Jiefang, Opel, Vauxhall and Wuling. GM’s
largest national market is China, followed by the United States,
Brazil, Germany, the United Kingdom, Canada, and Italy. GM’s OnStar
subsidiary is the industry leader in vehicle safety, security and
information services. General Motors acquired operations from
General Motors Corporation on July 10, 2009, and references to
prior periods in this and other press materials refer to operations
of the old General Motors Corporation. More information on the new
General Motors can be found at www.gm.com.
Forward-Looking
Statements
Except for the historical information contained herein, the
matters discussed in this news release include forward-looking
statements that involve risks and uncertainties detailed from time
to time in the Company’s filings and reports with the Securities
and Exchange Commission (the “SEC”) including the Company’s annual
report on Form 10-K for the year ended June 30, 2010. Such risks
include – but are not limited to – variable economic conditions,
adverse portfolio performance, volatile wholesale vehicle values,
reliance on warehouse financing and capital markets, the ability to
continue to securitize loans, the continued availability of credit
enhancement for securitization transactions on acceptable terms,
fluctuating interest rates, competition, regulatory and legal
changes, the high degree of risk associated with subprime
borrowers, and exposure to litigation. These forward-looking
statements are based on the beliefs of the Company’s management as
well as assumptions made by and information currently available to
the Company’s management. Actual events or results may differ
materially. It is advisable not to place undue reliance on any
forward-looking statements. The Company undertakes no obligation
to, and does not, publicly update or revise any forward-looking
statements, except as required by federal securities laws, whether
as a result of new information, future events or otherwise.
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