Berkshire Hathaway Chairman and CEO Warren Buffett smiles while playing bridge after the annual Berkshire Hathaway shareholders meeting on May 5, 2019 in Omaha, Nebraska.
Nati Harnik | AP
Warren Buffett’s Berkshire Hathaway threw a large part of his stake in activism blizzard As Microsoft’s The deal to buy a video game company is nearing the finish line.
The Omaha, Nebraska-based group disclosed a 1.9% stake in Activision with 14,658,121 shares, a new 13g filing Shown released on Monday evening. This compared with a 6.3% stake at the end of March and a 6.7% stake at the end of 2022.
Activision shares rose more than 9% last week on the news that the Federal Trade Commission lost its bid to block Microsoft’s $68.7 billion acquisition of the video game publisher. Microsoft’s appeal against the ban by UK regulators was granted a two-month stay on Monday.
The stock closed Monday at $93.21 per share. In January 2022, Microsoft announced its intention to purchase Activision for $95 per share.
The “Oracle of Omaha” previously revealed that one of his investing lieutenants, Ted Weschler and Todd Combs, first took a stake in Activision in October and November 2021 at an average cost of $77 per share.
The 92-year-old investment veteran has since increased his stake in the merger arbitrage game, betting that Microsoft’s proposed acquisition of the video game company will close.
Buffett revealed that he and his longtime business partner Charlie Munger began doing merger arbitrage deals five decades ago, when it was called “workouts.”
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