Del. Justices Nix Injunction Of Activision's $8B Stock Deal

Law360, Wilmington (October 10, 2013, 1:56 PM EDT) -- Activision Blizzard Inc.'s planned $8.2 billion buyback of Vivendi SA's majority stake is back in play as Delaware's highest court on Thursday unanimously overturned a preliminary injunction that blocked the video game publisher from closing the deal.

Returning to the bench after an hour of oral arguments at the Supreme Court in Dover, Chief Justice Myron T. Steele announced that "the court unanimously concludes that the Court of Chancery's judgment must be reversed."

"We hold that there is no reasonable possibility of success on the merits,...
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