OTHER NEWS - Aug. 17, 1993
From Times Staff and Wire Reports
Buffett Plans Bigger Stake in Salomon: Investment company Berkshire Hathaway Inc., led by Warren Buffet, who is reportedly worth $6.4 billion, has filed a request with the Securities and Exchange Commission to raise its stake in Salomon Inc. to at least 15% from 14.3%. Buffet, known as an investor who buys big interests in major companies and then holds on, believes the earnings of the nation’s fifth-largest securities firm will continue to advance, other investors said. Salomon shares surged Monday as much as 8% on news of Buffett’s intentions.
