Bank of America Corp. has received a vote of confidence from legendary investor Warren Buffett and sealed an agreement for his company, Berkshire Hathaway Inc., to inject $5 billion into the bank in a private offering.

The move comes as Bank of America has seen its stock slide about 30% this month, while talks have turned this week as to whether or not the firm needs to raise more capital. The bank also moved to quash rumors of a possible merger with JPMorgan Chase on Tuesday.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access