Shares in real estate investment trust Store Capital Corp (NYSE:STOR) soared in pre-market trade after it emerged Warren Buffett had acquired a stake.
The legendary investor splashed out US$377mln for 18.6mln shares in Store Capital, equivalent to a 9.8% stake in the company, through his Berkshire Hathaway Inc (NYSE:BRK.B) investment vehicle.
Berkshire Hathaway paid US$20.25 a share, prompting market makers to whack the share price of Store up 10.7% in pre-market trading to US$23.