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General Motors is clarifying comments made earlier this week by Chairman Ed Whitacre about the automaker’s expected initial public offering.
Whitacre told reporters in San Antonio on Wednesday that GM’s IPO would take place sometime in November and shares would be priced from $20 to $25 per share. Get the full story »
Shares of General Motors Co. are likely to be priced between $20 and $25 in the initial public offering by the automaker in November, Chairman Ed Whitacre said on Wednesday.
“It’s a little too early to say, but it is going to be somewhere in the $20 range…$20, $25, something like that would be my guess,” Whitacre said when asked what the price of the GM stock should be in the IPO. Get the full story »
New General Motors Co. Chief Executive Daniel Akerson will get a pay package worth $9 million in salary and stock to run the automaker. Get the full story »
General Motors Co. took a big step toward repaying a controversial taxpayer-funded bailout by declaring plans for a landmark stock offering that represents a critical test for the Obama administration.
The automaker said it planned to list the shares on the New York Stock Exchange and the Toronto Stock Exchange in an initial public offering that comes amid a still-weak global market for cars that is vulnerable to a further downturn.
The Obama administration wants to be able to cast its $50 billion GM bailout as a financial success in the face of public skepticism and Republican political opposition but some analysts are still wary of the offering. Get the full story »
General Motors Co. will have four lead underwriters on its IPO, according to a source familiar with the situation.
They will be Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley, the source said. JPMorgan and Morgan Stanley helped the automaker prepare the paperwork for the IPO. Get the full story »
General Motors said Thursday that CEO Ed Whitacre, 68, is stepping down as chief executive Sept. 1 and as chairman by year-end.
Dan Akerson, 61, a GM board member since 2009, will assume both roles by the end of the year. Get the full story »
General Motors Co. could file paperwork for its initial public offering as soon as Friday, CNBC reported Wednesday. The U.S. automaker is expected to file for an IPO worth up to $20 billion. At that size, it would be the biggest U.S. IPO since Visa Inc’s $19.7 billion offering in March 2008 and one of the biggest IPOs of all time. Get the full story »
