MSFT - Warren Buffett Is Selling Activision Stock Before the Microsoft Acquisition Closes. Should You?
2023-07-19 10:10:44 ET
Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) raised some eyebrows when it first bought shares of Activision Blizzard (NASDAQ: ATVI) . That's because the transaction occurred not long before Microsoft (NASDAQ: MSFT) announced plans to acquire Activision for nearly $69 billion in an all-cash transaction.
Berkshire CEO Warren Buffett felt the need to clarify things, releasing a letter explaining that Berkshire didn't have any prior knowledge of Microsoft's plans. Nothing ultimately became of the controversy.
Buying a stake in Activision proved to be a lucrative move for Berkshire. Now, though, Buffett is selling Berkshire's Activision stock before the Microsoft acquisition closes.
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Warren Buffett Is Selling Activision Stock Before the Microsoft Acquisition Closes. Should You?