/ Source: Reuters
General Motors is considering two offers for its Hummer brand after plans to sell it to China's Sichuan Tengzhong Heavy Industrial Machinery failed, according to a report in the Wall Street Journal.
The Journal did not identify the bidders, but said both bidders had previously made offers and had been turned down. GM is reconsidering after its plan to sell Hummer to Tengzhong for $150 million failed to get Chinese regulatory approval, the Journal said, citing a person familiar with the situation.
GM was not immediately available for comment.
GM on Wednesday said it would close down its Hummer operations. GM is continuing to wind down operations as it considers the two bids, the according to the report.
