Billionaire investor Warren Buffett knows a deal when he sees one. The Oracle
of Omaha is interested in taking as much as a 20% stake in Bear, Stearns &
Co., according to The New York Times. The company whose stock has taken a hit
from its losses in the mortgage meltdown closed up $8.62 to $122.86 on news of
the possible investment by Buffett. The report also cited that Bank of America
Corp. as well as two Chinese institutions, the Citic Group and China
Construction Bank, are also interested in taking a stake in Bear. — Gerald
Magpily
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New York Times article
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