General Electric Co. plans to offer $12 billion in common shares and billionaire investor Warren Buffett's Berkshire Hathaway Inc. will buy $3 billion in preferred shares as GE bolsters its cash cushion amid volatile markets.
Buffett's stake will pay an annual 10 percent dividend and is callable after three years at a 10 percent premium, Fairfield, Connecticut-based GE said today in a statement. Buffett also gets warrants to buy $3 billion of common stock with a strike price of $22.25 a share for five years.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a38DBL6ufMgw&refer=home
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