LOS ANGELES (AP) — A U.S. court has delayed the $8.2 billion sale of Vivendi's stake in Activision Blizzard Inc. back to the video game maker and an investor group led by CEO Bobby Kotick and co-chairman Brian Kelly.
Activision said Wednesday that the Delaware Court of Chancery said the deal required a vote by non-Vivendi stockholders.
Vivendi SA, a French media conglomerate, and Activision say they intend to proceed with the transaction.
In July, Vivendi announced it would sell most of its majority stake in Activision, the maker of "World of Warcraft" and "Call of Duty." Activision itself would buy $5.83 billion worth of shares at $13.60 apiece while the investor group would purchase another $2.34 billion worth.
Shares of Santa Monica, Calif.-based Activision fell 3 percent to $17.15 in after-hours trading.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Sweet, crunchy and sometimes spicy popcorn make for a great snack and perfect holiday gifts. One local business is doing it just right with so many unique flavors! Jim Walker, owner of Walker's Popcorn Company, is here with some great …
The year is winding down, which means it's time to start thinking about your taxes if you want to minimize some of the pain of April 15. Financial advisor and vice president of Charles Schwab and Company, Mike Bonds, is here with some …
Thriftown is helping you get crafty with your gifts for the holidays, while saving you a lot of money. Starting, Thriftown will be showing us how to make simple, but brilliant gift ideas all the way up until Christmas. Let's see what's in …