According to Walters, Michael's car was slowly approaching a stoplight near the Director's Guild of America when the bus was attempted to pass him ... and accidentally sideswiped Lohan's car.
Walters got out of his car and checked on Lohan -- who said, "Of course you're here when I get hit by a bus ... we exchanged information and everything is fine."
Walters says Lohan's car only appeared to have minor scratches and scrapes and Lohan was not injured.
TMZ -- we're everywhere.
Tags: Michael Lohan
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