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Warren Buffett reportedly wants the Fed's permission to boost Berkshire's stake in Bank of America beyond 10%

30 days ago   |   By Business Insider

Warren Buffett's Berkshire Hathaway is seeking approval from the Federal Reserve to increase its stake in Bank of America past 10%, Bloomberg reported Tuesday .
The Omaha, Nebraska-based holding company said it doesn't plan to merge the bank, sell its assets, or make other significant changes to its strategy or leadership, according to Berkshire's application obtained by Bloomberg.
Berkshire's position in BofA stock is its second-largest equity holding after Apple, and was worth more than $27 billion as of Monday's closing price.
BofA stock jumped as much as 3.8% on the news. The bank...
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Buffett's Berkshire seeks Fed leeway to boost BofA bet: Bloomberg

Buffett's Berkshire seeks Fed leeway to boost BofA bet: Bloomberg

30 days ago   |   By Reuters

Warren Buffett's Berkshire Hathaway Inc is seeking permission from the Federal Reserve to boost its stake in Bank of America Corp above the 10% level, Bloomberg reported on Tuesday.
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