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US Treasury to Sell Hartford Warrants

Posted on 21 Sep 2010

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The US Department of Treasury will sell 52.1 million warrant positions the government acquired from Hartford Financial Services Group, The Wall Street Journal said.

The Treasury received the warrants in consideration for investments made under the Troubled Asset Relief Program.

TARP was created to help bail out Wall Street from the financial crisis. The Treasury infused financial firms with cash in exchange for ownership stakes in the companies.

The warrants will be sold through a public offering, using a method that sets a market price by allowing investors to submit bids above a minimum price specified for each auction.