BusinessFebruary 19, 2001
MEMO: WARREN BUFFETT INVESTS IN H&R BLOCK
Investor Warren Buffett has bought a major stake in H&R Block Inc., making him the second-largest shareholder of the tax preparation giant. Buffett's company, Berkshire Hathaway Inc. in Omaha, Neb., disclosed the ownership in a filing with the Securities and Exchange Commission Wednesday. His 7,697,500 shares 8.43 percent of H&R Block are second only to the 8,056,448 owned by the Fidelity family of mutual funds...
Investor Warren Buffett has bought a major stake in H&R Block Inc., making him the second-largest shareholder of the tax preparation giant.
Buffett's company, Berkshire Hathaway Inc. in Omaha, Neb., disclosed the ownership in a filing with the Securities and Exchange Commission Wednesday. His 7,697,500 shares 8.43 percent of H&R Block are second only to the 8,056,448 owned by the Fidelity family of mutual funds.
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Buffett's holding is three times larger than that of Block co-founder and retired Chairman Henry Bloch, who has a 2.76 percent stake.
Linda McDougall, a Block spokeswoman, declined to discuss Buffett's filing but said it was welcome news.
"We certainly welcome Mr. Buffett as a shareholder," she said.
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