Mexican Media Brands
UAW Trust to Sell GM Warrants
The United Auto Workers union's retiree healthcare trust plans to sell its entire holding of 45.5 million General Motors Co. stock warrants on Tuesday, according to the company.
#labor
Share
The United Auto Workers union's retiree healthcare trust plans to sell its entire holding of 45.5 million General Motors Co. stock warrants on Tuesday, according to the company.
Each warrant represents the right to buy one share of GM common stock for $42.31. The company's shares closed at $36.75 on Monday.
Deutsche Bank Securities Inc. is conducting the sale, which will offer the warrants for prices between $3.50 and $7.50 each. At the maximum price, the securities would fetch nearly $341 million for the trust. GM will not receive any proceeds from the offering.
The healthcare trust also owns 140 million shares of GM common stock, a 10.1% stake.
RELATED CONTENT
-
Bentley Looking for Apprentices
It is always encouraging to learn about the efforts of OEMs and suppliers that are running apprenticeship programs to help train the future of the industry.
-
Is Brexit U.K. Auto’s Waterloo?
French manufacturers, particularly those in the automotive sector, are making significant investments in robotic technology, according to the International Federation of Robotics (IFR). The organization says that its most recent figures show that the number of robots installed in the French car industry rose 22 percent, to 1,400 units.
-
What to Do In an R&D Overcapacity Situation
Opel is making a big change in staffing in Rüsselsheim