GE Dilution Questioned
October 3, 2008
FP Trading Desk submits:
While much of the market is staying on the sidelines with cash in hand, Warren Buffett has made some major investments in names like Constellation Energy Group Inc. (CEG), Goldman Sachs Group Inc. (GS) and now General Electric Co. (GE).
His Berkshire Hathaway Inc. (BRK.A) announced plans to purchase $3-billion in perpetual preferred GE stock and warrants to buy 134.8 million common shares at any time in the next five years. The price tag was set at $22.25 a share, below GE’s market price and nearly half of where it was trading a year ago. GE is also offering at least $12-billion in common shares to the public.
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