Tuesday, May 17

Buffett’s Berkshire Hathaway takes stake worth $4.2 bln in HP

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Berkshire Hathaway Inc disclosed on Wednesday that it has purchased nearly 121 million shares of HP Inc, the latest in a series of large investments by the conglomerate controlled by billionaire Warren Buffett.

The investment was revealed in filings with the US Securities and Exchange Commission, and was worth about $4.2 billion based on HP’s closing stock price of $34.91.

HP shares rose about 7.6% in after-hours trading following the disclosure. (Reporting by Jonathan Stempel in New York; Editing by Muralikumar Anantharaman)