SANTA MONICA, Calif.--(BUSINESS WIRE)--
Activision Blizzard, Inc., a global leader in interactive entertainment,
announced today that the Delaware Chancery Court, in Hayes v.
Activision Blizzard, Inc., preliminarily enjoined the previously
announced concurrent transactions between the Company and ASAC II LP, on
the one hand, and Vivendi, S.A., on the other hand, halting the closing
of the transaction unless the injunction is modified on appeal or the
transaction is approved by a stockholder vote of the non-Vivendi
stockholders.
Activision Blizzard remains committed to the transaction and is
exploring the steps it will take to complete the transaction as
expeditiously as possible.
Under the terms of the transaction, the Company will acquire
approximately 429 million Company shares and certain tax attributes from
Vivendi, S. A. 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, will concurrently purchase approximately 172
million Company shares from Vivendi for approximately $2.34 billion, in
cash or $13.60 per share. The closing of the transactions is also
subject to the terms and conditions previously described in Activision
Blizzard's report on Form 8-K dated July 25, 2013.
About Activision Blizzard:
Activision Blizzard, Inc. is the world's largest and most profitable
independent interactive entertainment publishing company. It develops
and publishes some of the most successful and beloved entertainment
franchises in any medium, including Call of Duty®, Skylanders®, World
of Warcraft®, StarCraft® and Diablo®. Headquartered in Santa
Monica California, it maintains operations throughout the United States,
Europe, and Asia. Activision Blizzard, Inc. develops and publishes games
on all leading interactive platforms and its games are available in most
countries around the world.
Forward-looking statements:
This press release contains forward-looking statements including, but
not limited to, those relating to the transactions and whether or not
the Company will consummate the transactions and the timing of the
transactions.
The forward-looking statements in this release are based upon
information available to the Company as of the date of this release, and
the Company assumes no obligation to update any such forward-looking
statements. Although these forward-looking statements are believed to be
true when made, they may ultimately prove to be incorrect. These
statements are not guarantees of future events and are subject to risks,
uncertainties and other factors, some of which are beyond its control
and may cause actual results to differ materially from current
expectations.
Activision Blizzard Investor Relations:
Kristin Southey
Sr.
Vice President, IR and Treasurer
(310) 255-2635
ksouthey@activision.com
or
Activision
Blizzard Media:
Maryanne Lataif
SVP, Corporate
Communications
(310) 255-2704
mlataif@activision.com
Source: Activision Blizzard, Inc.
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