Three close to CEO Bobby Kotick say it was simply a "lucky bet".
Three men are reporting under investigation in relation to investor trading in relation to Microsoft’s recent acquisition of Activision Blizzard.
The Wall Street Journal has reported that Barry Diller, Alexander von Furstenberg and David Geffen are under two separate investigations after investing around $108 million USD in Activision Blizzard just days before an announcement by Microsoft that planned to acquire the company. As a result of the announcement, Activision Blizzard’s shares rose in value.
Said shares rose to $168 million USD following Microsoft’s announcement; they’re expected to rise above the $200 million USD mark if kept until the acquisition is completed.
Diller has referred to himself as a “long time friend” of current Activision Blizzard CEO Bobby Kotick, serving on the board of directors at Coca-Cola together. Geffen is another long time friend of Diller, and von Furstenburg is Diller’s stepson.
Speaking with WSJ, Diller said the trio’s investment was a coincidence, calling it a “lucky bet”.
We’ll keep you informed as we learn more.
Microsoft announced its intention to acquire Activision Blizzard for $67.8 billion USD back in January. The deal is expected to close in the 2023 fiscal year.
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