Posted by: youngragingbull | June 5, 2013

U.S. Treasury to sell 30M GM shares, UAW to sell 20M

The U.S. Treasury Department announced Wednesday that will sell another 30 million shares of General Motors Co. in its ongoing effort to wind down its ownership in the company and be out completely by early 2014.

The sale will coincide with the company’s inclusion on the S&P 500 index at the market close on Thursday.

Meanwhile, the UAW Retiree Medical Benefits Trust said it will sell 20 million shares at the same time.

Shares of GM ended Wednesday’s trading session down 2.69% to end at $34.02.

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