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JPMorgan, Morgan Stanley set to lead GM IPO


    NEW YORK (Reuters) - JPMorgan Chase & Co and Morgan Stanley are set to be the lead underwriters on the General Motors initial public offering, a source told Reuters on Friday.

    The offering is expected to be between $10 billion and $20 billion and underwriting fees will be 75 basis points, the source said. The source said that GM may also look for a line of credit from underwriters.

    (Reporting by Clare Baldwin)