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Warren Buffett says Berkshire's Activision purchase was 'no bonanza'

Buffett also said Berkshire had 'no prior knowledge' that Microsoft was working on a $68.7 billion takeover of Activision, whose franchises include 'Call of Duty' and 'Candy Crush'

Warren Buffett
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Warren Buffett (Photo: Bloomberg)

Reuters New York
Warren Buffett said Berkshire Hathaway Inc's recent investment in Activision Blizzard Inc has been "no bonanza" for Berkshire, and was made without knowing the video game maker would receive a takeover offer from Microsoft Corp.

In a letter released by Buffett's office on Thursday, Buffett said one of his investment managers paid about $77 per share for Berkshire's 14.7 million Activision shares, acquiring about 85% of his position in October and the rest in November.

Buffett also said Berkshire had "no prior knowledge" that Microsoft was working on a $68.7 billion takeover of Activision, whose franchises include "Call of Duty" and "Candy

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First Published: Feb 18 2022 | 8:06 AM IST

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