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May 29, 2009

Creditors, Workers Approve GM Deal
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Creditors of the auto giant General Motors have approved a deal that
would see the US government take at least 70 percent control of the
company to save it from collapse. The Canadian government and the United
Auto Workers union would also take up smaller ownership shares. On
Thursday, a majority of UAW members also approved the ownership deal in
return for major concessions on wages and benefits.



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