M & A wrap: Buffett buys into IBM
Warren Buffett said his Berkshire Hathaway Inc has accumulated a 5.5 percent stake in IBM, the billionaire investor’s biggest bet in the technology field he has historically shunned. Here is CNBC’s interview with Buffett.
IPOs, and the creation of suddenly wealthy employees, can be “a recipe for disaster for a company culture that’s already under stress from the new attention going public attracts,” reports San Jose Mercury News.
Bank of America Corp plans to sell most of its remaining stake in China Construction Bank Corp for $6.6 billion in cash to boost the ailing U.S. bank’s capital levels.