Apparently the first roots of the buyout appeared in late 2006, and by April last year an offer was on the table. However, come June Vivendi CEO Jean-Bernard Levy was on the phone to his Activision counterpart Robert Kotick to “advise him that, due to the meaningful differences between the two companies’ proposals and lack of any apparent progress, he did not think it made sense to continue discussions concerning a possible transaction at that time”.
Talks shortly resumed, however, only for Kotick to get on the phone to Vivendi Games CEO Bruce Hack in September to “inform him that, given the number of material open issues remaining, it did not made sense to continue discussions regarding a possible transaction at that time”.
Yet again, though, the two firms were back on talking terms only a week later.
The prolonged wrangling eventually saw Vivendi agree a deal that valued Activision $4 a share more expensive than when the original offer was tabled.