WHEN: TODAY, WEDNESDAY, NOVEMBER 17TH AT 4:14PM ET
WHERE: CNBC'S "CLOSING BELL WITH MARIA BARTIROMO"
Following is the unofficial transcript of breaking news from CNBC's Kate Kelly on the GM IPO pricing.
All references must be sourced to CNBC.
KATE KELLY: I UNDERSTAND THAT JUST MOMENTS AGO THE GROUP OR PARTIES DECIDING ON THE FINAL PRICE HAVE AGREED UPON $33 PER SHARE AS WE REPORTED AROUND NOON TODAY THAT WAS THE LIKELIHOOD AND GIVEN THAT THE DOW ENDED UP RELATIVELY FLAT TODAY MARKET CONDITIONS LOOKED INCLINED TO KEEPING THE PRICE AT THAT SAME LEVEL THAT IS OF COURSE IS AT THE HIGHER END OF THE $32 TO $33 DOLLAR PRICE RANGE WHICH WAS REVISED UPWARD EARLIER THIS WEEK FROM AN ORIGINAL $26 TO $29 DOLLARS SOME INVESTORS THOUGHT THAT WAS A LITTLE HIGH BUT I AM TOLD THAT THE DEAL WAS STILL WILDLY OVER-SUBSCRIBED AND RIGHT NOW AS WE SPEAK THERE IS A CONFERENCE CALL GOING ON CONTAINING THE UNDERWRITERS THE MAIN PARTIES INVOLVED IN THIS INCLUDING OF COURSE THE TREASURY THE UAW TRUST KNOWN AS VIVA THE CANADIAN GOVERNMENT AND APPARENTLY THEY HAVE SIGNED OFF MARIA ON A $33 PER SHARE DEAL
KELLY: THAT'S RIGHT IF YOU INCLUDE THE PREFERRED STOCK OFFERINGS WE DON'T KNOW ALL THE TERMS OF THAT YET RECENTLY IT WAS LOOKING TO BE ABOUT $4.6 BILLION DOLLARS AS HIGH AS THAT WITH ALL OF THAT IN IT WOULD BE THE HIGHEST ON RECORD IN THE U.S. AND GLOBALLY BUT DETAILS REMAIN TO BE SEEN ON WHAT'S GOING ON WITH THE PREFERRED I WILL COME BACK TO YOU AS SOON AS I HAVE SOMETHING ON THAT.
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