Buffett stake sends Axalta shares up

April 7, 2015 1:21 PM

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Shares of paint company Axalta Coating Systems Ltd. jumped more than 5% in early trading Tuesday after the company said billionaire investor Warren Buffett has taken a stake.

An affiliate of Buffett's Berkshire Hathaway company has agreed to buy 20 million of Axalta's common shares for $28 a share, or $560 million, the company said Tuesday.

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