GM says aid offer clears way for Axle settlement

DETROIT (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) believes that its $200 million aid offer to fund buyouts of workers at American Axle & Manufacturing Holdings (AXL.N: Quote, Profile, Research, Stock Buzz) will "bridge the gap" between positions of the supplier and the United Auto workers union in ongoing contract talks.

"We believe that the offer will help bridge the gap between American Axle and the UAW and the two parties will be able to reach a mutually satisfactory settlement in the near future," GM spokesman Dan Flores said in a prepared statement.

UAW workers have been on strike at American Axle plants in Michigan and New York since late February.