Subscribe Register Login

Sunday, December 21, 2014, 11:22 a.m.
Top Picks - Mobile App

GM to buy back 200 million government shares

By The Associated Press

This article was published December 19, 2012 at 7:06 a.m.

— General Motors will spend $5.5 billion to buy back 200 million shares of its stock from the federal government.

The government also plans to sell its remaining stake in the automaker within the next 12 to 15 months.

GM will pay $27.50 per share, about $2 more than Tuesday’s closing stock price.

The government got its shares of the company as part of a $49.5 billion bailout of GM that began nearly four years ago.

The bailout saved GM from collapsing into financial ruin.

The move leaves the government with 300 million shares. GM says the government plans to sell them on the open market starting in January.

The deal still leaves the government $21.5 billion short of breaking even on its investment.

Read tomorrow's Arkansas Democrat-Gazette for full details.

Comments on: GM to buy back 200 million government shares

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Telemarketing agents

    Needed Position is part-time Starting at $9.00/hour Plus Bo...
    Bryant, AR

  • Phlebotomist i

    phlebotomist i Full-Time- Little Rock, AR (Monday- Friday 8a...
    LITTLE ROCK, AR

  • Temp farm laborers

    temp farm laborers (6). 2/1/15-10/13/15. Seine, clean, grade...
    DE VALLS BLUFF, AR

  • Porter. truck centers of ar is now

    hiring a porter. This position will be responsible for clea...
    NORTH LITTLE ROCK, AR

  • Horticulture

    Windmill Nursery of Louisiana, LLC, Franklinton, LA now hiri...
    BOGALUSA, LA

Search 866 jobs >

Top Picks - Mobile App
Arkansas Online