Jump to content
  • William Maley
    William Maley
    Sign in to follow this  

    U.S. Treasury To GM: No, We're Not Selling Our Shares Yet

    William Maley

    Staff Writer - CheersandGears.com

    September 18, 2012

    The U.S. Treasury said no to a plan from General Motors to sell their remaining shares in the company according to a report from the Wall Street Journal.

    Earlier in the summer, GM floated a plan to the Treasury department to purchase the remaining 200 million shares the Treasury hold. Under the plan, the Treasury would sell the remaining shares through a public stock offering.

    The Treasury wasn't so thrilled with GM's plan, citing major losses to the Government if they sold at GM's current stock price. However, people familiar with the situation tell the Journal that the Treasury could sell if the share price was in the thirty dollar range.

    Source: Wall Street Journal (Subscription Required)

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.

    Sign in to follow this  

    User Feedback

    Recommended Comments

    There are no comments to display.

    Your content will need to be approved by a moderator

    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets