General Motors‘ Acquisition Offer to Lyft Turned Down

By Larry E. Hall General Motors invested $500 million last January for a nine-percent stake of ride-sharing company Lyft, and apparently wanted to own all of it.
The Detroit Free Press newspaper is reporting that the automaker approached Lyft in “recent weeks” about a potential acquisition that was declined.
Citing a post from technology website The Information, the report said a “person briefed on the situation,” stated that after seeking other potential strategic buyers, Lyft decided to raise funding from venture capital firms and other investors.
A price that GM was willing to pay was mentioned, but the amount wasn’t disclosed.
Privately held Lyft was valued at about

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