Warren Buffett April 30 announced that Berkshire Hathaway now owns 9.5% of video game giant Activision Blizzard, as it was informed in foreign media.
The announcement, which the CEO made during annual shareholders meeting, means that if Microsoft’s pending purchase of Activision Blizzard receives regulatory approval, the conglomerate should see a sizable return.
The stake, which is worth some $6 billion, is a large increase from the $1 billion Bershire Hathaway purchased before Microsoft announced it is buying Activision Bizzard for $95 per share.
According to Buffett, one of Berkshire’s managers chose to make the deal at the time. After Microsoft announced the deal, however, Buffett said that he decided to purchase additional shares of his own volition.
Activision Blizzard, Inc. is an American video game holding company based in Santa Monica, California. It was founded in July 2008 through the merger of Activision, Inc. (the publicly traded parent company of Activision Publishing) and Vivendi Games.
Berkshire Hathaway is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States.
