Buffett won again? The U.S. court approved Microsoft’s acquisition of $Activision Blizzard(ATVI)$ , and $Activision Blizzard(ATVI)$ jumped more than 10% on Wednesday. The market expects $Berkshire Hathaway(BRK.B)$ to earn $1 billion in profits!
On Tuesday, July 11th, Eastern Time, according to Bloomberg, a San Francisco federal court judge ruled that $Microsoft(MSFT)$ can advance the acquisition of $Activision Blizzard(ATVI)$ , which means that the US court agreed to the acquisition and also indicated that the US Federal Trade Commission (FTC) is trying to block the acquisition.
Transaction attempts failed. Brad Smith, chairman of $Microsoft(MSFT)$ 's board of directors, said he was "grateful" for the U.S. court's ruling in favor of Microsoft's acquisition of Activision Blizzard. Hopefully other countries will also take action to address the issues Microsoft faced with its acquisition of Activision Blizzard.
Buffett's $Berkshire Hathaway(BRK.B)$ owned nearly 50 million shares of $Activision Blizzard(ATVI)$ at the end of the first quarter. The company first acquired a stake in $Activision Blizzard(ATVI)$ in the fourth quarter of 2021.
Source:hedgefollow.com
If $Microsoft(MSFT)$ is able to close the deal with an all-cash offer of $95 per share, $Berkshire Hathaway(BRK.B)$ would receive a profit windfall over $1 billion based on Buffett's disclosed position and estimated weighted average price at the end of the first quarter 2023.
Berkshire‘s Holdings, hedgefollow.com
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