Wall Street firms vying for the role include Greenhill & Co., Lazard and Perella Weinberg Associates, according to the report, published on Saturday on The Wall Street Journal's Web site. The Journal reports that the Treasury Department declined to comment.
The government, however, still holds almost 61% of GM's common equity after its $50 billion bailout of the auto giant last year. An IPO would enable Washington to recoup its stake in the company, although GM has been vague on when an offering will happen.The Journal reports that an IPO is still several months away, at the earliest. GM, which lost $4.3 billion in the second half of 2009, recently said that it will likely be profitable for the first quarter, as well as the current year. -- Reported by James Rogers in New York Follow James Rogers on Twitter and become a fan of TheStreet.com on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV