Buffett's Berkshire reveals stake in HP; shares surge almost 10%

FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File Photo

(Reuters) -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 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.