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{"id":41238,"date":"2023-07-17T21:21:00","date_gmt":"2023-07-17T21:21:00","guid":{"rendered":"https:\/\/financeworld24.com\/warren-buffetts-berkshire-hathaway-cuts-activision-stake-as-microsoft-deal-inches-closer\/"},"modified":"2023-07-17T21:21:00","modified_gmt":"2023-07-17T21:21:00","slug":"warren-buffetts-berkshire-hathaway-cuts-activision-stake-as-microsoft-deal-inches-closer","status":"publish","type":"post","link":"https:\/\/financeworld24.com\/warren-buffetts-berkshire-hathaway-cuts-activision-stake-as-microsoft-deal-inches-closer\/","title":{"rendered":"Warren Buffett’s Berkshire Hathaway cuts Activision stake as Microsoft deal inches closer"},"content":{"rendered":"
\n
\n
\n
\n
\n

Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Nebraska, May 5, 2019.<\/p>\n

Nati Harnik | AP<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n

Warren Buffett<\/a>‘s Berkshire Hathaway<\/a><\/span><\/span><\/span> dumped a significant portion of its stake in Activision Blizzard<\/a><\/span><\/span><\/span>\u00a0as Microsoft’s<\/a><\/span><\/span><\/span> deal to buy the video game company edged closer to the finishing line.<\/p>\n

The Omaha, Nebraska-based conglomerate disclosed a 1.9% stake in Activision with 14,658,121 shares, a new 13G filing<\/a> released Monday evening showed. That compared with a 6.3% stake at the end of March and a 6.7% stake at the end of 2022.<\/p>\n

Shares of Activision soared more than 9% last week on news that the Federal Trade Commission lost its bid to block Microsoft’s $68.7 billion acquisition<\/a> of the video game publisher. Microsoft’s\u00a0appeal against U.K. regulators’ block on Monday was granted a two-month pause<\/a>.<\/p>\n

The stock closed Monday at $93.21 apiece. In January 2022, Microsoft\u00a0announced intentions to buy Activision<\/a>\u00a0for $95 per share.<\/p>\n

The “Oracle of Omaha” previously revealed that one of his investing lieutenants, Ted Weschler and Todd Combs, first took a stake in Activision<\/a> in October and November 2021with an average cost of $77 per share.<\/p>\n

The 92-year-old investing legend has since added to the holding in a merger arbitrage play, betting that\u00a0Microsoft’s<\/a>\u00a0proposed acquisition of the video game company would close.<\/p>\n

Buffett revealed that he and his longtime business partner Charlie Munger started doing merger arbitrage deals five decades ago, back when it was called “workouts.”<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Source: www.cnbc.com<\/p>\n","protected":false},"excerpt":{"rendered":"

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