SECURITIES

Buffett Seeks to Double Issue of Berkshire Hathaway Shares: In the company’s annual report, the billionaire investor asked holders of existing Berkshire common stock, currently around 1 million shares, to approve the issue of as many as 1 million more in preferred shares. Berkshire common stock, the most expensive on the New York Stock Exchange, closed $50 higher at $22,250 a share. Warren Buffett said he made the decision because of an offer the company made last spring to acquire a large family-controlled business in exchange for preferred shares of stock and other terms. Although the acquisition did not take place, he said, it made him realize he might need to issue such shares in future acquisitions. Buffett is chairman and chief executive and owns 42% of the firm.