Activision buy-back delayed by suit

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cockblock

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

Geoffrey Tim

Editor. I'm old, grumpy and more than just a little cynical. One day, I found myself in possession of a NES, and a copy of Super Mario Bros 3. It was that game that made me realise that games were more than just toys to idly while away time - they were capable of being masterpieces. I'm here now, looking for more of those masterpieces.

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