Buffett's firm to be largest shareholder of Bank of America
Warren Buffett's Berkshire Hathaway is set to become the largest shareholder of Bank of America surpassing Vanguard Group by exercising its warrants to buy 700 million common shares. Buffett had bought $5 billion of Bank of America's preferred stock in 2011 which included the warrants at $7.14 per share, less than one-third of current price thereby profiting over $12 billion.