US court delays $8.2B Vivendi-Activision deal

Sep 19, 2013

A U.S. court has delayed the $8.2 billion sale of Vivendi's stake in Activision Blizzard Inc. back to the video game maker and an investor group led by CEO Bobby Kotick and co-chairman Brian Kelly.

Activision said Wednesday that the Delaware Court of Chancery said the deal required a vote by non-Vivendi stockholders.

Vivendi SA, a French media conglomerate, and Activision say they intend to proceed with the transaction.

In July, Vivendi announced it would sell most of its majority stake in Activision, the maker of "World of Warcraft" and "Call of Duty." Activision itself would buy $5.83 billion worth of shares at $13.60 apiece while the would purchase another $2.34 billion worth.

Shares of Santa Monica, Calif.-based Activision fell 3 percent to $17.15 in after-hours trading.

Explore further: New York begins effort to help startups navigate regulations

Related Stories

Vivendi sells Activision stake for $8.2 billion

Jul 26, 2013

(AP)—Vivendi SA is selling most of its majority stake in video game maker Activision Blizzard Inc. for $8.2 billion as the French conglomerate tries to strengthen its balance sheet.

Activision targets EA in $400 million lawsuit

Dec 22, 2010

(AP) -- Activision Blizzard Inc., the video game maker behind the smash-hit shooter "Call of Duty: Black Ops," on Tuesday added a new target in its lawsuit against two former executives: rival Electronic Arts Inc. Activision ...

New 'Call of Duty' blows away sales records

Nov 11, 2011

"Call of Duty: Modern Warfare 3," the latest installment of the blockbuster videogame franchise, blew away sales records on its first day to become the highest-grossing entertainment launch ever, publisher Activision said ...

Recommended for you

How smart are the mobile shoppers who use smartphones?

18 hours ago

In the age of the smart phone, how smart are the mobile shoppers who use these almost ubiquitous devices? A study from South Korea published in the International Journal of Mobile Communications hopes to answer that questi ...

India's Infosys gives muted earnings, stock falls

19 hours ago

Indian software giant Infosys Technologies saw its shares dip nearly seven percent Friday after it reported a single digit rise in yearly revenues and also missed quarterly profit estimates.

Apple wins patent appeal in China

23 hours ago

Apple has won an appeal in China over patent rights to voice recognition software such as the iPhone's "Siri", with a court overruling an earlier decision that had gone against the US technology giant.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.