GM Buys Government Stake, Treasury To Lose Billions
Posted on December 19, 2012 at 12:28 PM EST
General Motors (GM) will buy 200 million of its shares from the Treasury for $5.5 billion, ending the government's ownership in the automaker. The Treasury stands to lose billions on the deal. On Wednesday, GM announced it would pay $27.50 per share to buy back its shares from the Treasury, which has owned part of the company since the bailout in 2009, prompting critics to give automaker the nickname "Government Motors." The deal is set to close
Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here