Report: U.S. Will Sell $3B in Ally Financial Stock

The U.S. Treasury Department plans to sell $3 billion of Ally Financial Inc. common stock, reducing taxpayers’ stake in the firm to 37%. Bloomberg reported that the U.S. will sell 410,000 shares for $7,375 apiece in a private offering and leave the government with about 572,000 shares of the auto lender, the Treasury said today [...]