Activision's $8B Stock Buyback Deal Stopped For Now

Law360, Los Angeles (September 18, 2013, 9:35 PM EDT) -- A Delaware Chancery judge has preliminary enjoined the previously announced $8.2 billion sale of Vivendi SA’s majority stake in Activision Blizzard Inc. back to the California video game publisher and a group of key investors, the companies announced Wednesday.

The decision comes after an Activision shareholder filed suit against Activision, Vivendi and ASAC II LP, an investment vehicle led by Activision CEO Bobby Kotick and Co-Chairman Brian Kelly, saying that the deal should be submitted to a stockholder vote of the non-Vivendi stockholders. Vivendi announced in...
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