General Motors S&P 500 Inclusion Another Step in Recovery
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General Motors Co., four years after being kicked out of the Standard & Poor’s 500 Index, will heal another wound of the financial crisis when it rejoins the benchmark gauge for American equities this week.
The largest U.S. automaker is replacing H.J. Heinz Co., which will be purchased by Warren Buffett’s Berkshire Hathaway Inc. and Jorge Paulo Lemann’s 3G Capital in a $23 billion buyout, according to a statement yesterday by S&P Dow Jones Indices LLC. GM, which had been in the S&P 500 since the index was established in 1957 until its 2009 bankruptcy, will be added to the gauge on June 6 and would be the 79th biggest company based on yesterday’s closing market values.