US court delays $8.2B Vivendi-Activision deal

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

Vivendi sells Activision stake for $8.2 billion

© 2013 The Associated Press. All rights reserved.

Citation: US court delays $8.2B Vivendi-Activision deal (2013, September 19) retrieved 10 April 2020 from https://phys.org/news/2013-09-court-82b-vivendi-activision.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments