GE Investors Said to Fight Forced $5 Billion Securities Swap
- GE Capital preferred holders discuss how to get better terms
- Some preferred holders complain to GE about note exchange
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Holders of preferred shares in General Electric Co.’s finance unit are revolting against the company’s decision to exchange $5 billion of the securities for notes the investors say are less valuable, according to people with knowledge of the matter.
About 70 holders of the company’s preferred securities convened on two calls this week to discuss how to extract better terms from GE, said the people, asking not to be identified because the matter is private. Many of the investors have complained directly to the company, they said.