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Goldman Sachs (GS) has agreed to sell stock to Warren Buffett: $5 BN of perpetual preferred...

Goldman Sachs (GS) has agreed to sell stock to Warren Buffett: $5 BN of perpetual preferred stock that pays a 10% dividend and is redeemable at any time for a 10% premium to its purchase price, and a 5 year warrant to purchase $5 BN of common stock for $115 per share. Given that GS closed in regular trading at $125, Buffett made an instant paper profit of $437 million. Goldman also says it will issue $2.5 BN of stock to the public.
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