Chief executive of Bank of America, Brian Moynihan, has been trying to pull the bank out of pending capital woes by selling assets and accepting an injection of money from Warren Buffett. In the second half of August, Bank of America announced a $5 billion cash injection from Buffett’s firm, Berkshire Hathaway, in return for preferred stock in the bank. That stock pays a 6% annual dividend. The deal also gives Buffett warrants to buy $5 billion of common stock, meaning he could end up owning 6.5%
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