Warren Buffett’s Berkshire Hathaway revealed on Wednesday that it had bought nearly 121 million shares of HP Inc. stock, according to foxbusiness.com.
Berkshire acquired the shares this week during a series of trades, according to Reuters.
With this investment, Berkshire acquires an approximately 11.4% stake in HP, valued at approximately $ 4.2 billion. The company’s stock closed at $ 34.91 on Wednesday.
Berkshire has made significant acquisitions in recent times, with HP making its third investment since February 26.
It is recalled that the company acquired Alleghany Corp for $ 11.6 billion in cash on March 21. Also in March, Berkshire unveiled a 14.6% acquisition of Occidental Petroleum Corp., which cost more than $ 6 billion.
Berkshire has been raising cash without making a significant acquisition for six years.
Source: Capital
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