Forget that old saying, “Goldman is gold.” It should be amended to “Goldman is gold, as long as Buffett says so.” Not quite as catchy, but based in fact:
Bloomberg: Goldman Sachs Group Inc. raised $5 billion in a stock offering, twice the amount the firm originally sought, after gaining an endorsement and a $5 billion cash infusion from billionaire investor Warren Buffett.
The New York-based bank sold 40.65 million shares of common stock at $123 apiece, the firm said in a statement today. That’s a 1.6 per cent discount to yesterday’s closing price of $125.05. The company, which underwrote its own offering, has an option to sell an additional 6.1 million shares.
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