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Warren Buffett clears up Activision stock purchase speculation
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Berkshire Hathaway chairman Warren Buffett, is clearing up speculation related to the company's purchase of Activision Blizzard stock.
Buffett, in an unusual public move, clarified in a letter posted to Berkshire Hathaway's website that the company had "no prior knowledge" of the Activision-Microsoft deal.
He confirmed that 85% of the position in Activision was acquired in October by one of two investment managers who operate independently of him, with the rest being purchased in November. The average cost of the purchase was $77 per share.
According to a 13F filing, Berkshire Hathaway bought approximately 14.66 million Activision Blizzard shares valued at around $975 million as of the end of 2021. Sources told the Wall Street Journal that the bulk of the Activision shares were purchased in October.
BERKSHIRE HATHAWAY INC.
ACTIVISION BLIZZARD INC.
The move came prior to Microsoft's announcement in January that it planned to acquire the embattled video game publisher in a deal worth $68.7 billion.
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