Berkshire Hathaway's stake in Activision Blizzard increased to 9.5%

The Chief Executive Officer of Berkshire Hathaway, Warren Buffet during the annual shareholder meeting informed that the company has increased its stake in Activision Blizzard from 2% to 9.5%.  Berkshire’s CEO told that while one of his portfolio managers established the stake in Activision Blizzard last year, he had since decided the stock was too far below the deal price and decided to increase Berkshire's position.Warren Buffet further stated that he wanted to create some news, and remove any incorrect news stories if his company boost its position to over 10%, and has to reveal the position to the SEC.

While referring to "work-outs" or arbitrage opportunities, Buffet commented, "Every now and then I see something that I want to do in that field.” The eminent investor is expecting that the deal will be approved by the regulators, and the stock of the Video game maker will increase to the deal price, generating a profit for Berkshire. Buffet said, "It is my purchase, not the manager who bought it some months ago. If the deal goes through, we make some money."