General Motors says it will take steps to reduce its financial leverage by $11B ahead of its...

|By:, SA News Editor

General Motors says it will take steps to reduce its financial leverage by $11B ahead of its public offering next month. The moves include purchasing $2.1B in preferred stock held by the U.S. government, contribute at least $6B to its pension plans and pay down debt to a health care fund for union retirees. (PR)