Activision Blizzard purchase from Vivendi halted due to lawsuit
Activision Blizzard’s attempt to break away from their parent company Vivendi Universal was halted today in the Delaware Chancery Court. Let’s get back in time a bit so you can understand the situation better.
Activision and Vivendi Universal merged back in 2008, a year after they have officially announced the move back in 2007. Back then, their deal was 18.9 billion dollars and resulting with VIvendi being the majority shareholder with 52 percent of the actions.
Apparently, Activision Blizzard decided to cancel their deal with Vivendi this year and buy themselves back for no more than $8.17 billion. Sadly, the company did not succeed in it’s attempt as they were accused of “breach of fiduciary duties, waste of corporate assets and unjust enrichment”.