We recently told you that Bobby Kotick and Brian Kelly had rallied to free Activizion-Blizzard from the shackles of its French Overlord Vivendi in a plan to buy the company back through an $8 billion deal. That has now been cock blocked.
A lawsuit filed by Activision Blizzard shareholder Douglas M. Hayes seeks to halt the proposed sale. He wants to force non-Vivendi shareholders to vote on the deal before it goes ahead, alleging that would give control of the company to CEO Bobby Kotick and co-chairman Brian Kelly and would “unjustly enrich Kelly, Kotick and the other participants.”
Activision Blizzard remains committed to the sale and “is exploring the steps it will take to complete the transaction as expeditiously as possible.”
I understand why ActiBlizz is so keen to free itself; Vivendi’s been attempting to use “creative accounting” to make Activision look worthless, and cash in on its stellar profits in doing so.
Last Updated: September 19, 2013
Alien Emperor Trevor
September 19, 2013 at 15:08
would “unjustly enrich Kelly, Kotick and the other participants.” and not ME. There, fixed.
Rincemetimbers
September 19, 2013 at 15:25
Header win!
That Rum-Drunk Twit
September 19, 2013 at 15:29
I agree.