Activision-Blizzard Cleared by Court to Proceed with Sale
Activision-Blizzard is now cleared to buy itself from Vivendi.
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.
Get Tom's Hardware's best news and in-depth reviews, straight to your inbox.
Catherine Cai was a freelance news writer for Tom's Hardware. She covered a variety of tech industry news, ranging from PC components to PC and console gaming.
-
Martell1977 So we will get to see how much of whats wrong with Activision-Blizzard is because of Vivendi's influence and how much of it is actually Kotick.Reply
Here's hoping Blizzard can return to form after this split. -
opmopadop I can't say exactly what it is about shareholders controlling gaming houses that leaves a sour taste in my mouth.Reply
Someone bring back the days where games were made for playing, not for filling up the 1%ers pockets. -
fleeb Reply11695367 said:So we will get to see how much of whats wrong with Activision-Blizzard is because of Vivendi's influence and how much of it is actually Kotick.
Here's hoping Blizzard can return to form after this split.
Unfortunately, it is still Kotick at the helm. -
sirskeetsalot2013 sadly, I find Steve Ballmer better than bobby kotick.Reply
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. -
sirskeetsalot2013 Like the logo should go "EA games, we ruin everything" (I remember this phrase from it's sports games, like NBA Jam.) The phrase normally says "EA Games, Challenge Everything" What a big LOL right?Reply -
jimmysmitty Reply11695670 said:I can't say exactly what it is about shareholders controlling gaming houses that leaves a sour taste in my mouth.
Someone bring back the days where games were made for playing, not for filling up the 1%ers pockets.
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.
11696099 said:sadly, I find Steve Ballmer better than bobby kotick.
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.
Steve Balmer isn't all that bad. The company is doing good and the products are decent. -
bowzef two of the worst company's for gaming, i know they will never go away, but gaming would be new beast if blizzard and activision were not around, or if bliz did not make WoW and got big head and think everything they make is best of the best, lol... both mentality is about money not the players.Reply