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United Auto Workers trust to sell warrants, buy General Motors stock

DETROIT (WKZO) -- The United Auto Workers trust that oversees retiree healthcare plans is reportedly going to sell over 45-million warrants to purchase shares of General Motors stock.

The warrants were given to the trust as part of the 2009 bankruptcy of General Motors.  The trust could earn nearly 340-million dollars if they sell all the warrants they were awarded at the maximum price allowed.

Some believe Wall Street investors may purchase the warrants as a way to buy GM stock in the future.