Fed Wises Up And Decides To Scale Back GM Stock Offering To Maximize Sale Price

The initial public stock offering by General Motors will be smaller than previously suggested, and the federal government will most likely sell a relatively small portion of its 61 percent stake in the company, according to people with knowledge of the preparations.

To fetch the highest possible price for the government, G.M. is planning an overall offering of stock valued at $8 billion to $10 billion, which is lower than previous internal targets, according to the people, who spoke on the condition of anonymity because of restrictions on public comments before an offering.



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LexSucks - 9/24/2010 4:46:08 PM

+1 Boost

Isn’t that picture of Obama just gorgeous?