DETROIT -- General Motors (GM) says it has taken another step to reduce its financial leverage with the completion of the $2.1 billion purchase of the GM 9 percent Series A Preferred Stock held by the United States Department of the Treasury (UST).
Last week, GM bought back 84 million shares of stock from the U.S. Treasuryt at $25.50 per share; a 2 percent premium over the liquidation value.
