GM to rebuy 200M shares from Treasury by year-end
Dec 20, 2012 | 02:55 PM
| Corinna Petry
CHICAGO General Motors Co. will purchase 200 million shares of GM common stock held by the U.S. Department of the Treasury for $5.5 billion, or $27.50 per share, it said Wednesday, noting that the transaction will close by year-end.
The share buyback is part of the Treasurys plan to fully exit its entire holdingwhich stands at 500.1 million sharesof GM stock within 12 to 15 months, subject to market conditions. The Treasury intends to begin its disposition of its remaining shares as soon as January, consistent with a pre-arranged written trading....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.