Activision Blizzard Merger Approved, Transaction Closes Tomorrow
Publisher Activision today announced that its merger with Blizzard Entertainment parent company Vivendi Games has been approved by shareholders, and the transaction is expected to officially close tomorrow, July 9.
The new company, dubbed Activision Blizzard, is valued at roughly $18.9B.
As per the terms of the merger, Vivendi Games will become a wholly-owned subsidiary of Activision, and receive approximately 295.3M shares of Activision stock. Vivendi will also purchase nearly 63 million shares of stock at a total value of $1.7B, making Vivendi's ownership stake in the newly created Activision Blizzard around 52%.
Announced late last year, the Activision Blizzard merger is one of the largest corporate consolidations in the history of the gaming industry.
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