Sweet deal, 10% yield, plus warrants... nice
Goldman to Raise Capital, With $5 Billion From Buffett - NYTimes.com: "Berkshire Hathaway, the conglomerate run by Mr. Buffett, will receive perpetual preferred shares in Goldman, said the spokesman, Lucas Van Praag. The preferred stock will pay a 10 percent dividend.
Goldman will also issue $2.5 billion in common shares.
In addition, Berkshire Hathaway will receive warrants to buy $5 billion in common stock at a strike price of $115 a share, which are exercisable at any time in a five-year period. Goldman shares closed Tuesday at $125.05, up $4.27."
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