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Berkshire deposits $5bn with Bank of America
Warren Buffett's Berkshire Hathaway has made a
$5bn investment in Bank of America through a private share issue.
Berkshire Hathaway will receive a 6 percent annual dividend on its
stock, which can be bought back by the bank at any time for a 5
percent premium to the issue price.
The deal also gives Berkshire Hathaway a 10-year right to buy 700
million normal shares in Bank of America for $7.14 a share...
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