Buffett Buys GM Stock

Billionaire Warren Buffett's Berkshire Hathaway Inc. acquired 10 million shares of General Motors Co. for $257 million during the first quarter of 2012.

Berkshire disclosed the investment in a filing with the U.S. Securities and Exchange Commission.

The stock purchase amounts to only 0.6% of GM's 1.6 billion shares. But the stamp of approval from Buffett, considered one of America's top investors, burnished the company's reputation a bit. GM shares climbed more than 2% on Wednesday to close at $21.91.