Warren Buffett's Berkshire (BRK) Bought Nearly $1 Billion of Activision Blizzard (ATVI) Shares Just Before Microsoft Deal

February 15, 2022 6:28 AM EST

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Berkshire Hathaway (NYSE: BRK-A) bought almost $1 billion of shares of Activision Blizzard (NASDAQ: ATVI) before Microsoft (NASDAQ: MSFT) announced its plan to acquire the video game giant in a $68.7 billion deal, a regulatory filing showed.

Warren Buffet’s Berkshire acquired around 14.7 million shares before the deal was announced, which was worth around $975 million as of December 31. Microsoft announced it intends to buy Activision Blizzard on January 18.

Shares of Activision Blizzard surged 23% since the beginning of the year to $81.50, but still below the offered $95 per share acquisition price as the deal raised antitrust concerns among regulators.

Investors keep a close eye on Berkshire investments to find out in which businesses the conglomerate sees value. In the previous quarter, Berkshire increased its stake in oil giant Chevron Corp (NYSE: CVX) and reduced its holdings in Bristol-Myers Squibb (NYSE: BMY) and Abbvie (NYSE: ABBV).

The company is expected to share more details about its stock purchases and moves on February 26 when it is expected to publish year-end results and its long-awaited annual shareholder letter.

By Senad Karaahmetovic | [email protected]

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

13Fs, Trader Talk

Related Entities

Warren Buffett, Definitive Agreement, Senad Karaahmetovic