Dec. 4 (Bloomberg) -- Billionaire investor Michael Price said he bought shares of Bank of America Corp. in its $19.3 billion equity sale yesterday after shunning large lenders.
Bank of America raised money in the biggest U.S. offering of stock or preferred shares since at least 2000 to free itself from government restrictions after accepting funds from the Troubled Asset Relief Program. The Charlotte, North Carolina- based company, the largest U.S. bank, sold securities at $15 each, or 4.8 percent less than its closing price yesterday.
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