The Canadian government on Tuesday said it has a deal to sell 30 million shares of General Motors Corp in a block trade to Bank of America Merrill Lynch. Canada GEN Investment Corp., a government-owned entity, said it still will own more than 110 million GM common shares when the deal closes on Sept. 16. It also will still hold more than 16.1 million preferred shares.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC traded higher by 0.9% or $0.13/share to $14.61. In the past year, the shares have traded as low as $8.53 and as high as $15.03. On average, 102422000 shares of BAC exchange hands on a given day and today's volume is recorded at 93053520.
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