Auction of Wells Fargo warrants brings in $840.4M

By MARTIN CRUTSINGER AP Economics Writer

(AP) - And this.

WASHINGTON (AP) - A sale Wells Fargo & Co. warrants has brought the government $840.4 million in the latest move to recoup costs for taxpayers from the $700 billion financial bailout.

The Treasury Department says it sold 110.26 million warrants at a price of $7.70 per warrant. The government had set a minimum bid price of $6.50 per warrant for the auction, which was held Thursday.

A warrant gives the purchaser the right to buy common stock at a fixed price.