What? Wirehouses are in trouble? Not according to the Oracle.
Warren Buffett will become one of Goldman Sachs’ (GS) 10 largest shareholders after the bank amended a warrant agreement made with the billionaire from 1998.
The deal saves Buffett’s Berkshire Hathaway (BRK) billions in costs and lets Goldman maintain the accretion to its stock price.
Under the original agreement, the warrant provided Berkshire Hathaway the right to purchase 43,478,260 shares of Goldman Sachs’ common stock, par value $0.01 per share, at an exercise price of $115 at any time until Oct. 1.