Measured by Wednesday’s closing price, Berkshire Hathaway owns a stake in HP for about $ 4.2 billion (CZK 94 billion). HP had 1.06 billion shares at the end of January.
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Buying a stake in HP is Berkshire’s third major investment since February 26, when Buffett said in an annual letter to shareholders that “internal opportunities yield much better returns than acquisitions” and that stock markets are little “exciting”, Reuters said.
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In the second half of March, Berkshire expanded its insurance portfolio by agreeing to acquire insurance company Alleghany for $ 11.6 billion in cash. In early March, Berkshire unveiled a 14.6 percent stake in oil and gas producer Occidental Petroleum, in which it invested about $ 6 billion.
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Before announcing the purchase of Alleghany, Buffett spent six years without a major acquisition, so Berkshire raised $ 146.7 billion in cash. Buffett has pledged to have at least $ 30 billion in cash on hand.
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