Delaware Supreme Court Unanimously Reverses Lower Court Decision
SANTA MONICA, Calif.--(BUSINESS WIRE)--
Activision Blizzard, Inc. (NASDAQ: ATVI), a global leader in interactive
entertainment, announced today that the Company expects to complete by
October 15, 2013 the previously announced transactions with Vivendi,
S.A. and ASAC II LP, pursuant to which the Company will acquire
approximately 429 million Company 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
a preliminary injunction related to these transactions that was
previously entered by the Delaware Chancery Court in Hayes v.
Activision Blizzard, Inc., thereby enabling the parties to move
forward with the completion of the transactions.
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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