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Vivendi SA Announces Court Action in Connection with Its Sale of a Majority of Its Interest in Activision Blizzard Inc

Wednesday, 18 Sep 2013 06:07pm EDT 

Vivendi SA announced that the divestment of the majority of Vivendi SA's interest in Activision Blizzard Inc is being delayed by a United States court decision. An alleged shareholder of Activision Blizzard INC filed a lawsuit in the United States against Activision Blizzard Inc, Vivendi SA and ASAC II LP, a consortium of investors including the Activision Blizzard CEO Bobby Kotick and Co-Chairman Brian Kelly. The plaintiff claims that the transactions were required to be submitted to a vote of stockholders of Activision Blizzard Inc and therefore seeks to prevent consummation of the transactions. The Delaware Court of Chancery granted the plaintiff’s request, issuing an order which precludes the consummation of the transactions unless the order is modified on appeal or the transaction is approved by a Activision Blizzard Inc stockholder vote. 

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