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Proxy Fight Over GM Stock Heats up Ahead of Annual Meeting

Shares of General Motors are rising as a proxy fight escalates between the company and an activist shareholder who wants to split its shares into two classes. David Einhorn's Greenlight Capital said Tuesday that it's sending a letter to shareholders emphasizing that the stock price has barely grown since GM's initial public offering at $33 seven years ago. GM pointed out last week that two independent, corporate evaluation firms, ISS and Glass Lewis, recommended against the proposal...

Mentions: Activist Investors Annual Meeting David Einhorn