Deals
Berkshire to Pay Nothing to Be Among Top Goldman Sachs Holders
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Warren Buffett’s Berkshire Hathaway Inc. is poised to become one of Goldman Sachs Group Inc.’s largest shareholders without paying anything after the companies agreed on a plan to settle warrants granted at the height of the 2008 financial crisis.
Berkshire had the right to buy 43.5 million Goldman Sachs common shares for $115 apiece until Oct. 1. Under a deal announced by the companies today, Buffett’s firm will get Goldman Sachs stock equal to the difference between the average closing price during the 10 trading days before Oct. 1 and the exercise price, multiplied by 43.5 million.