Warren Buffett’s Berkshire Hathaway Inc. acquired its largest stake in General Motors Co. before the automaker slumped 16 percent, as the billionaire chairman hands more responsibility to deputy stock pickers.
Berkshire accumulated about 8.47 million shares of GM through Feb. 3 at an average price of $24.35, according to National Association of Insurance Commissioners data compiled by Bloomberg. The automaker closed at $20.54 yesterday in New York. Omaha, Nebraska-based Berkshire’s full stake was reported in a separate regulatory filing in May that didn’t disclose the purchase price or date.
