GM Spends $3.9 Billion to Redeem Preferred Stock

DETROIT – General Motors Co. says it has completed the planned $3.9 billion purchase of 156.1 million shares of preferred stock, reported MLive. The Detroit-based automaker sold cheaper debt to pay for the purchase. GM spokesman Tom Henderson said Wednesday that the deal improves the company’s cost structure.GM has now redeemed all Series A preferred ... Read More »

GM Said to Consider Sale of Preferred Stock Along with its IPO