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 Warren Buffett's move to swoop in with a $5 billion capital injection into Goldman Sachs Group Inc. may have derailed a plan by Sumitomo Mitsui Financial Group to make a similarly sized investment in the Wall Street titan.
The London Times is reporting that the:
Japanese group was planning to invest around $2.5 billion in Goldman and would have become the third Tokyo giant to swoop on Wall Street within 48 hours. ... Mitsui Sumitomo, which performed tit-for-tat capital infusions with Goldman Sachs in 1986 and 2003, is understood to have been in informal talks over a private placement of around $2.5 billion.With Berkshire Hathaway Inc. getting $5 billion in preferred shares along with warrants for another $5 billion, Sumitomo Mitsui has scaled down its plans. Multiple sources have the Japanese bank contemplating putting $1 billion into Goldman instead. - George White See Times story See Dealscape post on Buffett investment See Crisis on Wall Street Dealwatch Categories Deal Video
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