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Bank of America Bengaluru Editing Buffett Berkshire Business Vanguard Group 

Buffett’s company to become Bank of America’s top shareholder

June 30, 2017 By Jonathan Stempel and Aparajita Saxena (Reuters) – Warren Buffett’s company will become the biggest shareholder in Bank of America Corp , after Berkshire Hathaway Inc on Friday invoked its right to acquire 700 million shares of the second-largest U.S. bank. Berkshire will take a roughly 7 percent ownership stake, worth about $17 billion based on Bank of America’s closing price of $24.32 on Thursday. The transaction will make Bank of America one of Berkshire’s largest equity investments, joining Apple Inc , Coca-Cola Co , Kraft Heinz…

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Bank of America Bengaluru Editing Buffett Berkshire Business Vanguard Group 

Buffett’s Berkshire to exercise BofA warrants for shares

June 30, 2017 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it would exercise its warrants to buy 700 million common shares of Bank of America Corp , making it the largest shareholder of the lender. Berkshire said it would exercise its warrants after the bank raises its quarterly dividend to 12 cents per common share. The conglomerate said it expected to use $5 billion of Bank of America’s 6 percent preferred stock that it currently owns to fund the acquisition. Buffett had bought $5 billion of Bank of America…

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Buffett upbeat on American business; Berkshire operating profit down

February 26, 2017 By Jonathan Stempel (Reuters) – Warren Buffett on Saturday mounted a forceful and upbeat defense of the prospects for American business, as his Berkshire Hathaway Inc reported a higher quarterly profit though operating income fell. In his annual letter to Berkshire shareholders, Buffett said investors “will almost certainly do well” by staying with the long term with a “collection of large, conservatively financed American businesses.” Buffett puts Berkshire in that category, using the letter to tout the successes of many of his Omaha, Nebraska-based conglomerate’s more than…

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