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Non-Tech : Goldman Sachs Group Inc. NYSE:GS

GS 789.37

-0.1%

Oct 31 9:30 AM EST

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From: Don Green	9/23/2008 6:51:49 PM
	of 411

Berkshire buying $5 billion stake in Goldman Sachs Tuesday September 23, 6:10 pm ET By Anna Jo Bratton, Associated Press Writer Buffett's Berkshire buying at least $5 billion stake in Goldman Sachs in private offering OMAHA, Neb. (AP) -- Warren Buffett's Berkshire Hathaway Inc. is investing at least $5 billion in Goldman Sachs Group Inc. The announcement Tuesday from Goldman involves preferred stock that carries a dividend of 10 percent. Berkshire also will receive warrants to purchase $5 billion of Goldman's common stock with a strike price of $115 per share. The shares are exercisable at any time for a five-year term. Goldman's shares closed at $125.05 Tuesday, up $4.27. Goldman is also raising at least $2.5 billion in a public offering. At last report, Berkshire had total assets of nearly $278 billion, including significant stakes in companies such as Wells Fargo & Co., American Express and the Washington Post Co.

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