GM Said to Have Disagreed With Treasury Over IPO Price Range

General Motors Co. and its government owners disagreed over the price for the automaker’s initial public offering before settling on a range between $26 and $29 a share, according to eight people familiar with the matter.

The U.S. Treasury was seeking a split-adjusted price of $30 a share, referred to as the “Obama number” by officials in the administration, said the people, who declined to be identified because the talks were private. At that price, the government could say it recovered all the money spent on GM’s bailout under President Barack Obama, though not what his predecessor put in.