Activision in $8.2 Billion Deal to Buy Back Stake From Vivendi

Gryphon · Jul 26, 2013

Activision Blizzard, the world’s biggest video game publisher, has a reached an $8.2 billion deal to separate from Vivendi and become an independent company.

Under a deal that was announced early Friday, Activision Blizzard and a group of investors led by the company’s management will buy back shares owned by Vivendi, the French conglomerate that controls the video game maker, leaving a majority of Activision Blizzard’s shares held by the investing public.

Activision Blizzard will buy about 429 million of its shares shares and certain tax attributes from Vivendi for roughly $5.83 billion in cash, or $13.60 a share, the company said. In addition, Robert A. Kotick, 50, the chief executive, and Brian Kelly, the co-chairman, are leading a group in buying about 172 million shares of the company from Vivendi for about $2.34 billion.

Vivendi will retain a stake of about 12 percent, or 83 million shares, in Activision Blizzard, the company said. Mr. Kotick will continue to lead the company and Mr. Kelly will become the sole chairman, according to the terms of the deal.
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http://dealbook.nytimes.com/2013/07/26/activision-in-8-2-billion-deal-to-buy-back-stake-from-vivendi/?_r=1&

They got out of that mess but at a high price

Activision in $8.2 Billion Deal to Buy Back Stake From Vivendi

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Activision in $8.2 Billion Deal to Buy Back Stake From Vivendi

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