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Uber/Lyft

GM Expressed Interest in Lyft at $6 Billion

One of the unresolved questions surrounding General Motors’ interest in acquiring Lyft is what price the automaker was willing to pay. Now we have part of the answer: Lyft’s leaders informed the company’s board of directors this summer that GM expressed interest in a $6 billion deal, according to two people with knowledge of the disclosure.

Another person briefed on the deal said that GM verbally indicated it might pay $4.5 billion plus an equivalent amount to whatever the cash Lyft had on hand. Lyft has about $1.4 billion of cash on hand.

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Lyft is losing less than $50 million a month and as of this summer, it planned to lower that to $30 million by the end of this year and even further by early next year.