Gaming News: Activision Blizzard Bid For Independence Put On Hold

Written by Callum Shephard Thursday, 19 September 2013

Gaming News

As reported on several days ago, an effort by Blizzard to effectively buy itself from multi-media outlet Vivendi and go independent was met with resistance. One shareholder unhappy with the decision and their inability to have any say on the transaction proceeded to claim lawsuit against several major figures involved. This was in a bid to stop the developer/publisher going through with its plans, and it seems to have been at least partially successful.

The Delaware Chancery Court where the lawsuit is taking place has declared that the separation will remain on hold until it is approved by stockholders outside of Vivendi or modified on appeal. Despite this setback, the company is still dead set on completing the costly deal and (as quoted by the Hollywood Reporter) is currently “exploring steps it will take to complete the transaction as expediently as possible.”

Given the opposition and the lack of say in the matter by certain shareholders, it remains to be seen if this will actually be possible. Along with Hayes instigating the lawsuit there have been other complaints by shareholders filed against the deal. One by shareholder Todd Miller cited “unjust enrichment” among other subjects for opposing the deal. Only time will tell how the companies will react to the derailment of their plans.

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