Activision-Blizzard Cleared by Court to Proceed with Sale
It’s been a couple of months since Activision’s announcement that the company was going to buy its way to independence from parent company Vivendi. The buyout, led by Activision CEO Bobby Kotick and a few other investors, was halted by the Delaware court in September. An angry shareholder, Douglas Hayes, filed a lawsuit against the purchase, claiming that the sale required a vote by shareholders in order for it to happen.
Today, the Delaware Supreme Court has given Activision the all-clear to proceed with the deal. The court ruled that since the purchase was a stock re-buy, a vote from the minority shareholders was not necessary.
The Activision buyout deal is expected to go down on October 15th. Activision-Blizzard will be buying up 429 million shares at $5.83 billion. The investor group led by Bobby Kotick will buy an additional 172 million shares at $2.34 billion, allowing Activision to have Vivendi’s 61% majority sharehold.
Here's hoping Blizzard can return to form after this split.
Someone bring back the days where games were made for playing, not for filling up the 1%ers pockets.
Unfortunately, it is still Kotick at the helm.
puts on my sad face. That prick has ruined so many good franchises, and companies I myself don't ever even buy an EA game unless it's on a steam sale under $10.
Hence why I still like VALVe so much. Privately owned so they can focus on the gamers instead of profits. and while they do profit they do it because they make good products and involve the community as much as possible.
Steve Balmer isn't all that bad. The company is doing good and the products are decent.