March 28 (Reuters) - Greenlight Capital:
* Greenlight Capital proposes GM change capital structure to "unlock substantial shareholder value"
* Plan would split GM’s common stock into two classes
* One class of GM stock would get current dividends, other class would participate in remaining earnings, cash flows, future growth of company
* Adopting plan would lower GM’s cost of capital, improve financial flexibility, unlock between $13 billion and $38 billion of shareholder value
* Greenlight Capital's David Einhorn says “as significant, long-term shareholders, we believe in GM’s strong earnings potential" Source text for Eikon: