DirecTV to buy back shares from GM pension funds

Newswire

NEW YORK, Feb 27 (Reuters) - Top U.S. satellite television company DirecTV Group Inc. on Monday said it would buy 100 million of its shares back from General Motors Corp.'s pension funds for $1.55 billion, or $15.50 a share. The deal represents a 1 percent discount from Friday's closing price of $15.68 on the New York Stock Exchange. GM's benefit plans will own a total of 115 million DirecTV shares, or less than 10 percent of total outstanding shares, after the transaction is completed, ...

Premium Content (PAID Subscription Required)

"DirecTV to buy back shares from GM pension funds" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: lwilliamson@wardsauto.com or phone: (248) 799-2642
 

Current subscribers, please login or CLICK for support information.

Already registered? here.

Sponsored Introduction Continue on to (or wait seconds) ×