Berkshire Hathaway Inc. started buying more shares of Activision Blizzard Inc. since Microsoft Corp. announced its plan to acquire the videogame maker in January and now has a 9.5% stake, Warren Buffett said Saturday at Berkshire's annual meeting. Buffett said those purchases were his decision and are a bet that the deal will close. Activision (ATVI) shares ended Friday at $75.60, while Microsoft (MSFT) has offered $95 a share. Berkshire would be required to make a regulatory filing if its stake topped 10%. Buffett said he was revealing the news to head off incorrect stories. Berkshire held 14.7 million shares of Activision as of the end of December, a roughly 2% stake.
(END) Dow Jones Newswires
April 30, 2022 15:10 ET (19:10 GMT)
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