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 This material may not be published, broadcast, rewritten or redistributed.
State Rep. Alvin Holmes of Montgomery says he's been criticized by a former Alabama State University trustee and others because he refused a request to help turn an investigation of the university into a racial fight.
Things Stay Warm, Humid, and Foggy for the Rest of the Week but Cooler Air Returns this Weekend...
You have a chance to play Santa this year and make Christmas brighter for some very special children. All you need to do is go shopping!
The Mobile County Sheriff’s Office says a fire in Irvington, Ala is not the result of a meth lab explosion as first thought.
A new report says Alabama's HIV and AIDS rate has dropped slightly. But it's not all good news, the report also says the number of two other STDs have gone up.