(Reuters) - General Electric Co (GE.N) Chief Executive Officer Jeff Immelt purchased $2.6 million of the U.S. conglomerate's shares, according to a filing on Tuesday, following a rough start for the company's stock price in 2014.
GE priced $2.25 billion in 30-year bonds and an additional $750 million in 10-year notes, a company spokesman said. The notes were priced to yield 3.487%, and the bonds, 4.566%, a person familiar with the transaction said.
Some companies like Facebook make waves in the media when they write a check to acquire a flashy upstart. As a case in point, look no further than the social media giant's recent $19 billion WhatsApp purchase.
"The dispute involves a good-faith difference of opinion over the tax consequences of a restructuring done more than a decade ago," GE spokesman Seth Martin said in a statement. "While we have paid the taxes in question, we believe it is in all parties ...
During the fourth quarter of last year, Buffett increased his holdings of General Electric by 1,700% through his Berkshire Hathaway holding company. That equates to about 10.6 million shares and roughly $265 million before even considering dividends.
Wayne was part of Dresser Inc, the energy infrastructure company that GE bought in 2010 for $3 billion. That deal marked its largest acquisition since the financial crisis and heralded a series of takeovers by GE in the energy space in following years.