BUSINESS
03/18/2010 05:12 am ET Updated May 25, 2011

GMAC Asks For $2.8 Billion More In Taxpayer Money

The U.S. government is likely to inject $2.8 billion to $5.6 billion of capital into the Detroit company, on top of the $12.5 billion that GMAC has received since December 2008, these people said. The latest infusion would come in the form of preferred stock. The government's 35.4% stake in the company could increase if existing shares eventually are converted into common equity.

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