Activision Blizzard: Vivendi buyout injunction lifted

MCV Staff 10th October 2013 Business News

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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