Berkshire Hathaway, a holding company run by Warren Buffett, now owns about 9.5% of Activision Blizzard, the billionaire revealed on Sunday during Berkshire’s annual shareholder meeting.
In October and November, the company already bought 14.7 million shares of Activision (nearly 2% stake worth $975 million as of the end of December), and in the spring of 2022, Buffett himself raised his conglomerate’s stake in the Call of Duty and World of Warcraft studio to 9.5% worth around $5.6 billion with the share price reaching approximately $80.
Buffett emphasized that it was his own bet but not the investment manager who initially bought shares in the company and explained that if Microsoft's deal to purchase Activision Blizzard goes through, it will allow Berkshire to "make some money" with the shares.
Previously, it was reported that the board of directors has already approved the deal, while a group of activist investors has urged the shareholders to vote against it. Wall Street investors also doubt that the US, European Union, and Chinese antitrust authorities will approve the deal.
On Friday, Activision Blizzard's stock closed at $75.60, which is about 20% below the price at which Microsoft is willing to buy the shares ($95).
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