Government hires banks to hold GM stock sale
The Economics of Wall Street by Tony Fischer Photography
License (according to Flickr): Attribution License
License (according to Flickr): Attribution License
The Treasury Department still holds 300 million shares of GM common stock that it got as part of a $49. 5 billion bailout of the Detroit automaker. GM bought back 200 million shares last month for $5. 5 billion. The company says it won't buy back any more. The banks will get one cent for every share they sell for a fee of up to $3 million. The government says it will sell all the GM shares by early in 2014. Even with the sale taxpayers are likely to lose billions on the bailout. The government now owns about 19 percent of GM.
Government hires banks to hold GM stock sale
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Company: GM
Overall Sentiment: 0
Relevance: 0.867429
Disambiguation: AircraftManufacturer | AutomobileCompany | AwardWinnerReferences:
Organization: Treasury Department
Overall Sentiment: 0
Relevance: 0.31803
Disambiguation: GovernmentAgency | GovernmentalBodyReferences:
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Source : Government hires banks to hold GM stock sale
The U.S. government is hiring JPMorgan Securities and Citigroup Global Markets to handle the sale of its remaining stake in General Motors.
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Government hires banks to hold GM stock sale
Source : Government hires banks to hold GM stock sale
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