GM Board Backs Wagoner But…

It doesn't reject Renault alliance, and today's special board meeting may not be enough to satisfy shareholder Kirk Kerkorian's desire for dramatic results

Now the dance begins. General Motors' board of directors agreed to begin "exploratory" talks with Renault-Nissan about a possible tie-up. But that hardly means that GM's board and its executives are keen on doing a deal, which is being pushed by activist shareholder Kirk Kerkorian.

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