General Motors said that the United Auto Workers health care trust is expected to receive $171 million from the sale of warrants in GM it received as part of the automaker’s 2009 restructuring, reports The Detroit News.
The UAW is selling 45.4 million warrants at that allow the buyer to acquire shares of GM stock at $42.31 at any time on or before Dec. 31, 2015.
The warrants will be traded on the New York Stock Exchange under the symbol “GM WS C.”
The sale will officially close on Aug. 12.
Source: The Detroit News
