(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. took a stake in Activision Blizzard Inc., the game giant that has agreed to be acquired by Microsoft Corp., in an investment that would have been valued at $975 million at the end of the year.
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Berkshire held nearly 14.7 million shares in the video-game company as of Dec. 31, according to a regulatory filing released Monday. The conglomerate snapped up the stock ahead of Activision’s $69 billion deal with Microsoft, which was announced mid-January.
It’s unclear whether Buffett or one of his two investment managers, Todd Combs and Ted Weschler, made the investment. Buffett, Berkshire’s chief executive officer, has long had ties to Microsoft through his friendship with the tech firm’s co-founder and former CEO, Bill Gates. Activision stock jumped nearly 26% on the day of the deal’s announcement,…
