Berkshire bought Activision stock from Buffett before Microsoft deal

Warren Buffett Berkshire Hathaway He bought about $1 billion worth of stock in Activision Blizzard in the fourth quarter, According to a regulatory filingjump by Microsoft It agreed to buy the video game publisher for $68.7 billion.

The filing shows that Berkshire owned 14.66 million shares, valued at $975 million, by the end of 2021.

Microsoft announced Acquisition intent Activision Blizzard in mid-January for $95 per share, sending the stock up 25% to over $82, although it has fallen slightly since then. It will be the biggest deal ever made by a US technology company.

Buffett is preparing to make a good profit in the event that the deal closes. The stock reached a low of $56.40 last quarter after the California Department of Fair Employment and Housing Foot A lawsuit alleges that Activision and its subsidiaries promoted a sexist culture and paid women less than men.

Activision also said in November that it was delaying the releases of Diablo IV and Overwatch 2. It was hit by disappointing reviews for its new game, Call of Duty: Vanguard, which was released in the same month.

Bill Gatesco-founder and former CEO of Microsoft, step down From the Berkshire and Microsoft Boards of Directors in 2020. Gates is a longtime friend of Warren Buffett, Chairman and CEO of Berkshire Hathaway. They are ranked fourth and sixth, respectively, among the world’s richest people, according to Forbes.

He watches: Warren Buffett and Charlie Munger talk about Berkshire Hathaway’s unique management style