GM, BMG will merge in a $3 billion deal that could bring the combined company’s total assets under management to $10.4 billion, including $1.5 billion in cash, the companies said Wednesday.GM said it will invest $1 billion in a new manufacturing facility, while BMG said it plans to spend $400 million on research and development and $500 million on technology development and marketing.
The combined company will invest more than $1 trillion in the U.S. over the next 20 years, including more than 10 times the amount of cash the companies combined invested in the United States in 2017, the statement said.GM and BMG announced the deal Tuesday.
GM shares rose 2.8% to $37.69.
The shares of BMG rose 2%.
GM shares were down 3.7% at $50.79.
BMG shares were up 2.4% at €3.71.