Treasury gets $11.7 billion from GM stock sale

Treasury announces receipt of $11.7 billion in net proceeds from General Motors stock sale

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WASHINGTON (AP) — The Treasury Department says it has received $11.7 billion from the sale of 358.5 million shares of General Motors stock.

Treasury announced that the net proceeds from the GM stock sold last week were delivered on Tuesday. Treasury officials said that the government could receive an additional $1.8 billion assuming the underwriters exercise options to purchase an additional 53.8 million shares of GM common stock within 30 days of the initial stock offering.

The government put $49.5 billion into GM as part of its bailout of the giant automaker.



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  • A Yahoo! User

    A Yahoo! User 1 minute ago Report Abuse

    The Words on the money say in GOD we Trust

    not in GM we trust.


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