Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



U.S. Treasury to Auction M&T Bank Warrants

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

The Treasury Department is to sell the 1.2 million-plus warrants it holds in M&T Bank's (NYSE: MTB  ) common stock, Treasury announced in a statement. The sell-off will be in the form of an auction, which is to take place tomorrow, Dec. 11.

Treasury received the warrants as part of the regional banking group's participation in the financial crisis-era TARP government bailout program. Treasury also received equity in the company, which it has also been divesting. This past August, it auctioned off more than $381 million in M&T preferred stock.

The auction of the warrants will open at 8 a.m. ET and close at 6:30 p.m. Bidders will be allowed to place bids at any price above the minimum of $23.50 per warrant. Treasury said. The bids must be in increments of $0.25.

Deutsche Bank (NYSE: DB  ) is the only book-runner for the offering.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2147620, ~/Articles/ArticleHandler.aspx, 10/24/2016 11:49:37 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 hours ago Sponsored by:
DOW 18,223.03 77.32 0.43%
S&P 500 2,151.33 10.17 0.47%
NASD 5,309.83 52.43 1.00%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/24/2016 4:01 PM
DB $14.48 Up +0.17 +1.19%
Deutsche Bank CAPS Rating: **
MTB $118.92 Up +0.01 +0.01%
M and T Bank CAPS Rating: *****