Buffett Says Berkshire Had No Advance Word of Activision Deal

Berkshire Hathaway Inc. “had no prior knowledge” of Microsoft Corp.’s plans to acquire Activision Blizzard Inc. before the conglomerate took a stake in the gaming giant last year, billionaire Warren Buffett said.

The stock purchases were made by one of Berkshire’s two investment managers, Ted Weschler and Todd Combs, Buffett said in a statement. The investment was made “independently of me,” he wrote. The New York Post reported his comments earlier.

Buffett, Berkshire’s chief executive officer, is longtime friends with Bill Gates, Microsoft’s co-founder and former CEO, and a onetime Berkshire board member. Berkshire held nearly 14.7 ...