Activision Blizzard has reached a deal with Vivendi to acquire its own shares for over $8 billion. Vivendi still retains 83 million shares (around 12 percent), but Activision Blizzard will become an independent company again with a majority of its shares owned by the public. Bobby Kotick will remain Chief Executive Officer, with Brian Kelly as Chairman.
The price for Activision Blizzard’s split from Vivendi is roughly $5.83 billion in cash for 429 million shares however Kotick, Kelly and others are purchasing a further 172 million shares for $2.34 billion.
“These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi,” Kotick said in a press release, in part. “We should emerge even stronger-an independent company with a best-in-class franchise portfolio and the focus and flexibility to drive long-term shareholder value and expand our leadership position as one of the world’s most important entertainment companies. The transactions announced today will allow us to take advantage of attractive financing markets while still retaining more than $3 billion cash on hand to preserve financial stability.”
(via Joystiq)