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Benzinga
Benzinga
Business
Adam Eckert

Why Activision Blizzard Shares Are Rising Today

Activision Activision Blizzard Warren Buffett Berkshire Nasdaq Berkshire Hathaway Video Game

Activision Blizzard Inc (NASDAQ:ATVI) shares are trading higher Monday morning after Warren Buffett said Berkshire Hathaway has built about a 9.5% stake in the video game company.

Microsoft Corp (NASDAQ:MSFT) announced an agreement to buy Activision for $95 per share at the beginning of the year. With the stock trading well below $95, Buffett, on Saturday, announced Berkshire has been increasing its stake in a merger arbitrage play, betting that the deal will close. 

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