BUSINESS
01/18/2009 05:12 am ET | Updated May 25, 2011

GM, Chrysler Close In On Deal For US Loans, Say Sources

DETROIT - General Motors Corp and Chrysler LLC made significant progress late Thursday on a deal to secure emergency loans as part of a U.S. government aid package, sources familiar with the talks said.

The package would demand sweeping restructuring at the troubled automakers.

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