Stocks rise on reports of GM bondholder agreement

By MADLEN READ
AP Business Writer




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NEW YORK -- Stocks are sharply higher amid reports that a General Motors Corp. bondholders committee accepted an amended debt offer, according to The Associated Press.

Trading in GM shares is halted. CNBC is reporting that bondholders would get 10 percent of the equity in the company. That might still not spare the company from bankruptcy, however.