Poor Bobby Kotick (a phrase I bet no one has ever said)! The saga continues in Activision-Blizzard’s fight for freedom from their overlords, Vivendi. Strangely enough, Vivendi also wants to let them go – but it’s all being held up by a Mr. Douglas M. Hayes.
As Geoff told you earlier this month, Hayes filed a lawsuit to stop the sale/buy back of Activision-Blizzard. He wants to force a shareholder vote on the deal before it goes ahead. A preliminary injunction has been released, barring the $8.2 billion deal. However, there is actually no way to get a shareholder vote through before the agreement is terminated on 15 October. As such, Activision’s lawyers state in their appeal:
The injunction leaves Activision and its stockholders in limbo and at risk of losing an $8 billion deal that will return the company to public control
The court will assess the appeal on 10 October. Vivendi continues to state that the deal is a share buyback, not a sale. As such, no vote is needed. However, the share buyback would result in Vivendi losing their 61 percent stake in (the highly profitable) Activision-Blizzard. Not quite sure why shareholders are upset with a deal that would get them $8.2 billion, though. Is this just greed?
I’m rooting for Acti-Blizz on this one. It’s about time they had their freedom. Maybe they need to be released from the control of their titan overlords before they can pick up work on Titan.
Last Updated: September 25, 2013
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Sir Rants-a-Lot Llew
September 25, 2013 at 14:16
They need to get out from under Vivendi so that they can start making non perma-online games
Brady miaau
September 25, 2013 at 14:26
Imagine finding out that Vivendi did not force it……….
Xelus
September 25, 2013 at 15:02
That is like saying, THQ never forced Volition to not make a mod tool set for Saints Row, we all know it is true, and truth be told, Blizzard is also famous for having perma-online games, doubt it will change with Activision.
Weanerdog
September 25, 2013 at 21:01
Vivendi had ownership but did not have any operational control as such, all their directors would have been non-exec. Operational staff not on the board so they make the bucks they keep their jobs and get bonuses, this is exactly how it is still going to work in the future.
Sir Rants-a-Lot Llew
September 26, 2013 at 07:01
Stop talking sense and breaking my hope!
Rincethis
September 25, 2013 at 14:27
Let them GOOOOO! Shesh, it’s like some stalemate between divorcing couples just trying to do one over on the other.
Alien Emperor Trevor
September 25, 2013 at 14:33
It’s all about the MUNNAY!
Alex [SS] PsyChoPanthis
September 25, 2013 at 14:28
FINALLY!!! Another person eagerly awaiting Titan!
Lardus-Resident Perve
September 25, 2013 at 15:09
If only Blizzard would return to making epic games that did not have always-on DRM, I might care about them again. But alas, making D3 better for console than PC just broke my last piece of fan-dom. * Bunch of phallus siphoners! *
Jim Lenoir (Banana Jim)
September 25, 2013 at 15:42
Give this man a bells!
Lardus-Resident Perve
September 25, 2013 at 15:48
Can’t remember ever having Bells. More of a johnny Walker Black Label man