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Goldman Sachs Denies It Plans to Stop Taking Orders on GM IPO

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Nov. 11 (Bloomberg) -- Goldman Sachs Group Inc. denied a Dow Jones Newswires report that it will stop taking orders early for General Motors Co.’s initial public offering, according to spokeswoman Andrea Rachman.

“The report that Goldman Sachs is no longer taking orders or won’t be taking orders, or will stop taking orders on Friday at noon is incorrect,” Rachman said in a phone interview today.

Dow Jones earlier reported that New York-based Goldman Sachs would close its books on GM’s initial offering tomorrow at noon, citing Scott Sweet, managing director at research firm IPOBoutique.com.

GM, 61 percent owned by the U.S. government and based in Detroit, plans to raise $10.6 billion in an IPO scheduled for Nov. 17, data compiled by Bloomberg show.

To contact the reporter on this story: Cecile Vannucci in New York at cvannucci1@bloomberg.net.

To contact the editor responsible for this story: Daniel Hauck at dhauck1@bloomberg.net.

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