- A Delaware court has halted the closing of Activision's (ATVI) $5.83B leveraged recap deal with Vivendi (VIVHY.PK), as well as the concurrent purchase of $2.34B in Activision shares from Vivendi by Activision's CEO and co-chairman. The injunction can be lifted either by a successful appeal, or a shareholder vote involving Activision investors not named Vivendi.
- Given Activision shares soared when the deals were announced, one would think shareholders would sign off on them.
- Activision recently raised $2.5B to help pay for the leveraged recap deal.
at Investor's Business Daily (Thu, 6:32PM)