Taxpayers to Lose Billions as GM Buys Stake Back from Government | The Weekly Standard

“The Detroit automaker said it will purchase 200 million shares of GM stock held by Treasury for $5.5 billion — or $27.50 per share — nearly $2 above the stock’s closing price on Tuesday,” the Detriot News reports.

However, the break even price — the price that GM would need to pay for each share in order to pay back the money the government put in to the company —is $53 a share.

That means, GM is saving more than $5 billion by buying back its stock now.

via Taxpayers to Lose Billions as GM Buys Stake Back from Government | The Weekly Standard.

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