Activision Blizzard Remains Committed to Transaction with Vivendi
September 18 2013 - 5:30PM
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.
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