Yes, dear reader. According to Bloomberg Warren Buffett’s Berkshire Hathaway gave
up an opportunity to become the biggest shareholder in Goldman Sachs Group Inc.
(GS), choosing to take stock instead of cash profits he might make on a 2008
grant.
Berkshire held warrants that allowed it to purchase 43.5
million Goldman Sachs common shares for $115 apiece until Oct. 1. Under revised
terms announced by the companies today, Berkshire will get stock equal to the
difference between the average closing price during the 10 trading days preceding
Oct. 1 and the exercise price, multiplied by 43.5 million.
The new deal eliminates some of the risk for Omaha,
Nebraska-based Berkshire, which would have had to spend about $5 billion to
exercise the warrants and then eventually sell the shares to cement a profit…
Read all about it at http://www.bloomberg.com/news/2013-03-26/berkshire-to-get-goldman-stock-tied-to-warrants-from-2008-deal.html
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