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Activision Blizzard: Vivendi buyout injunction lifted

Erik Johnson
Activision Blizzard: Vivendi buyout injunction lifted

Activision Blizzard has announced it expects to complete its stock buyout from Vivendi next week.

The Delaware Supreme Court lifted the injunction regarding the transaction, just a few weeks after shareholders attempted to block it by seeking the preliminary court order – in addition to filing individual lawsuits against the firm.

The group of investors led by CEO Bobby Kotick now looks to move forward with the transaction, where it plans to spend $8bn to purchase a majority stake in the company. Vivendi would still retain a minority ownership of 12 per cent.

Activision Blizzard states the transaction will be completed by October 15th.

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Tags: buyout , activision blizzard , vivendi , MCV USA

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