GM gets regulatory clearance to buy self-driving tech firm

General Motors received quick regulatory approval of its acquisition of Cruise Automation, the three-year-old startup that has developed a "highway autopilot" product that could accelerate GM's quest for a fully autonomous car. A spokeswoman for the Federal Trade Commission said the agency granted expedited approval, saying the transaction would not violate anti-trust laws. GM did not disclose the purchase price, but some media outlets have reported the automaker paid 1 billion for the small San Francisco company. The companies expect to complete the deal by the end of June. Cruise has developed a device that enables drivers to take their car onto the highway, then they can push a button that transfers control of the accelerator, brakes and steering.