The Treasury Department will be putting its Wells Fargo warrants up for auction Thursday.
On Wednesday the Treasury Department said it would auction 110.3 million of its Wells Fargo warrants in an effort to collect returns on the $700 billion it doled out in connection to the Troubled Asset Relief Program. The warrants represent a potentially lucrative source of revenue for the government.
The government, for its part, can use the money, while the financial industry is anxious to rid itself from the associated restrictions, such as limits on executive compensation. The Wells Fargo auction, the government said, would take place on Thursday, with the warrants costing at minimum $6.50 each. The warrants themselves give the owner the right to purchase common stock at a fixed price.
Full story: Wells Fargo Warrants On The Block – Forbes.com