Key Highlights
Exiting Our Activision Blizzard Position:
We have covered Microsoft’s acquisition of Activision Blizzard (ATVI) for several months here on InsideArbitrage including our original write-up in the October 2022 Special Situations Newsletter and a detailed follow-up by Frank Moneymaker in our January 2023 newsletter.
While I had followed Activision Blizzard for more than fifteen years before the deal was announced, I did not get interested in participating in the merger arbitrage situation until the price had dropped to around $75 and we initiated a position in the InsideArbitrage model portfolio at a price of $74.34. I also subsequently purchased the stock for my personal portfolio.