Warren Buffett made what he referred to as some "news" about an existing Berkshire Hathaway investment at his annual meeting in Omaha on Saturday. He said that Berkshire has bought more shares of video game maker Activision Blizzard (ATVI) since Microsoft (MSFT) announced plans to acquire it earlier this year.
Berkshire first invested in Activision last year before the merger was announced. But with Activision stock now trading at about $75.60 a share, well below Microsoft's proposed takeover price of $95 a share, Buffett felt that buying more was a good "arbitrage" investment in the event that the deal goes through at the higher price.
source: Business section of CNN
