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. 

 
 

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  • 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.

    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.

    Someone bring back the days where games were made for playing, not for filling up the 1%ers pockets.
  • fleeb
    Anonymous 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.