How Activision Ruling Favors M&A Formalities Over Practice

By John Stigi and Eugene Choi (March 25, 2024, 5:34 PM EDT) -- In Sjunde AP-Fonden v. Activision Blizzard Inc.,[1] the Court of Chancery of the State of Delaware recently declined to dismiss a claim alleging that the board of directors of defendant Activision violated Section 251(b) of the Delaware General Corporation Law, or DGCL, by approving a draft merger agreement between Activision and Microsoft Inc. that was not sufficiently final....

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