Buffett endorsement bolsters BoA Merrill shares

Buffett's $5 billion investment in Bank of America Merrill Lynch is just the fillip stock markets need, despite specialists' mixed reception to the cash injection.

Buffett endorsement bolsters BoA Merrill shares

Bank of America Merrill Lynch shares bucked losses on Friday after Warren Buffett struck a deal to invest in $5 billion worth of preferred stock with warrants to buy 700 million BoA Merrill shares at $7.14 a share.

“I remain confident that we have the capital and liquidity we need to run our business,” said BoA Merrill chief executive officer Brian Moynihan, while announcing the investment. The reference to BoA Merrill being...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...