Activision Blizzard Vivendi buy out injunction lifted, firm expects to complete transaction by October 15

By Stephany Nunneley

Activision Blizzard has said it expects to complete its stock buyout transaction with with Vivendi by October 15.

The transaction would see Activision Blizzard and a group of investors led by CEO Bobby Kotick fork out $8 billion to purchase a majority stake in the publisher, leaving Vivendi with just 12%.

Some shareholders have sought to block the sale by suing to prevent the deal due over “unjust enrichment”, or by seeking an injunction.

The firm announced a $429 million shares and certain tax attributes from Vivendi for approximately $5.83 billion in cash or $13.60 per share. In a separate but simultaneous transaction, ASAC II LP, the investment vehicle led by Activision Blizzard CEO Bobby Kotick and Co-Chairman Brian Kelly, is expected to purchase approximately 172 million Company shares from Vivendi for approximately $2.34 billion, in cash or $13.60 per share.

The Company also announced today that the Delaware Supreme Court lifted the preliminary injunction related to these transactions, thereby enabling the parties to move forward with the completion of the transactions.