The Bank of America has maneuvered to bring in some cash to their reportedly troubled corporation. According to The Wall Street Journal, the financial corporation was infused with $13.5 billion yesterday via a common-stock sale of 1.25 billion shares.
The Wall Street Journal also states that the bank sold some of its stake in China Construction Bank for $7.3 billion.
The alleged reason for the financial corporation's paper chase is to avoid any further government investment in the company, and to avoid a governmental takeover.
No comments:
Post a Comment