Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) raised some eyebrows when it first bought shares of Activision Blizzard (NASDAQ: ATVI). That's because the transaction occurred not long before Microsoft (NASDAQ: MSFT) announced plans to acquire Activision for nearly $69 billion in an all-cash transaction.

Berkshire CEO Warren Buffett felt the need to clarify things, releasing a letter explaining that Berkshire didn't have any prior knowledge of Microsoft's plans. Nothing ultimately became of the controversy. 

Buying a stake in Activision proved to be a lucrative move for Berkshire. Now, though, Buffett is selling Berkshire's Activision stock before the Microsoft acquisition closes.

Continue reading

Source Fool.com