Seeking Alpha

Delaware court overturns Activision-Vivendi ruling, allows deal to proceed

  • Delaware's Supreme Court has overturned a September lower court ruling requiring Activision (ATVI +3.8%) to put its $5.8B leveraged recap deal with Vivendi and the $2.3B purchase of Vivendi-owned Activision shares by the company's CEO and co-chairman to a shareholder vote.
  • The deal, which (judging the market's reaction to the initial announcement) would likely have been overwhelmingly approved by shareholders, is now free to move forward without a vote.
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