Bank of America: Berkshire to trade warrants for stock.
(CercleFinance.com) - Warren Buffett's Berkshire Hathaway will acquire 700 million of Bank of America common stock through warrants, the holding company said on Friday.
Berkshire plans to exercise its warrants to acquire the shares at the exercise price of 7.142857 dollars per share, using its 5 billion of Bank of America 6% preferred stock that it currently holds.
Berkshire Hathaway said the decision was triggered by Bank of America's decision on Wednesday to increase its quarterly dividend.
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Berkshire plans to exercise its warrants to acquire the shares at the exercise price of 7.142857 dollars per share, using its 5 billion of Bank of America 6% preferred stock that it currently holds.
Berkshire Hathaway said the decision was triggered by Bank of America's decision on Wednesday to increase its quarterly dividend.
Copyright (c) 2017 CercleFinance.com. All rights reserved.