The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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From: DuckTapeSunroof	12/11/2009 10:54:25 AM
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US Treasury to net $936 mln from JPMorgan warrants Fri Dec 11, 2009 9:05am EST reuters.com WASHINGTON, Dec 11 (Reuters) - The U.S. Treasury Department said on Friday it priced warrants in JPMorgan Chase & Co at $10.75 per warrant in a deal that will bring U.S. taxpayers net proceeds of $936.06 million. The 88.4 million warrants to purchase common stock in JPMorgan were priced in a modified Dutch auction. The sale marks the disposal of the government's remaining investment in the banking giant, which the Treasury received last year in exchange for $25 billion in bailout money. The sale is the latest in a series of Treasury auctions of warrants received from banks that accessed the $700 billion Troubled Asset Relief Program. Last week, Treasury priced warrants in Capital One Financial Corp (COF.N) at $11.75 each, bringing in net proceeds of $146.5 million. (Reporting by David Lawder; Editing by Andrea Ricci)

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