A Large Investment In Bank of America..........

Berkshire Hathaway Inc., the American conglomerate holding company is going to buy 50,000 shares of Cumulative Perpetual Preferred Stock of Bank of America Corporation.The liquidation value is $100,000 per share.The dividend of the stock is 6% per Annam,which is payable in quarterly installment and is redeemable at a 5% premium.

According to the agreement,Berkshire Hathaway will also get warrants of purchasing 700,000,000 shares of common stock of Bank Of America at the price of $7.142857 per share.

The CEO of Bank Of America said that a huge investment by Berkshire Hathaway is a powerful support in their strategy.The strategy of Bank of America of serving the customers impresses the CEO of Berkshire Hathaway.He is pleased with profit-originating capabilities of this franchise.

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