JPMorgan CEO Jamie Dimon and Berkshire Hathaway chair Warren Buffet contended in a Wall Street Journal article that quarterly earnings reports are promoting a short-term corporate strategy that is hurting the economy.
Berkshire Hathaway exercised its warrants to purchase 700 million shares of common stock of Bank of America. The deal makes Warren Buffett’s Berkshire the largest common shareholder of Bank of America.
Reuters reported that U.S. deal activity surged 62% during the first quarter bolstered by a series of deals valued at over $5 billion.
H.J. Heinz announced it has entered into a merger agreement to be acquired by an investment consortium comprised of Berkshire Hathaway and 3G Capital in deal valued at $28 billion, including outstanding debt.