General Motors is buying AmeriCredit (ACF +22.8%) for $3.5B in cash, in order to "meet customer...

|About: AmeriCredit Corp. (ACF)|By:, SA News Editor

General Motors is buying AmeriCredit (ACF +22.8%) for $3.5B in cash, in order to "meet customer demand for leasing and non-prime financing for GM vehicles." The deal gives GM an in-house auto lender for the first time since it sold control of GMAC in 2006. (PR)