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 latest in a series of large investments by the conglomerate controlled by billionaire Warren Buffett.
The investment gives Berkshire a roughly 11.4% stake in HP, worth about $4.2 billion based on the personal computing and printing company's closing stock price on Wednesday of $34.91. Shares of HP rose 9.9% to $38.38 in after-hours trading after Berkshire disclosed the stake in filings with the U.S. Securities and Exchange Commission.HP, based in Palo Alto, California, had about 1.06 billion shares outstanding as of Jan. 31.The HP stake is Berkshire's third big investment since Feb.
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