DETROIT — General Motors Corp. said Tuesday it does not expect to reach agreement on concessions with the United Auto Workers union or with the Treasury Department on its debt- for-equity exchange before next Tuesday’s deadline.
Both deals are part of the restructuring effort GM must complete by June 1, or it could be sent into bankruptcy protection.
GM said in a filing with the Securities and Exchange Commission that the agreements aren’t expected to be reached by Tuesday — the deadline for GM’s bondholders to accept an offer to take 10 percent of the company’s stock in exchange for wiping out $27 billion in debt. GM had said in its original debt-swap offer that it expected to disclose terms of a UAW deal to cut labor costs before that deadline.
