Warren Buffett's Berkshire Hathaway takes stake worth $4.2 billion in HP

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 U.S. 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.