Post by smash on May 22, 2014 11:28:01 GMT
French conglomerate Vivendi is selling its remaining $850 million in Call of Duty publisher Activision Blizzard's stock, the company confirmed today.
The company's common stock, made up of nearly 41.5 million shares, have been made available. This equates to roughly 6 percent of Activision Blizzard.
Vivendi will be unable to sell its remaining 6 percent holding in the company until 2015. The stock sale is expected to reach completion on May 28 of this year.
Activision and Vivendi agreed to split last year after Activision's five years as a unit of Vivendi. Activision Blizzard announced in late July that it was breaking away from Vivendi Universal and buying itself back in a two-part share acquisition for $8.17 billion. The deal involved Activision buying back approximately 429 million shares from Vivendi for $5.83 billion. Investor group headed by the then Activision Blizzard CEO Bobby Kotick and co-chairman Brian Kelly, ASAC II, aimed to purchase roughly 172 million Activision Blizzard shares from Vivendi for $2.34 billion.
...either Vivendi is hurting badly or they believe Activision has seen it's best days...either way...these kinds of moves only cause doubt and in investment circles...that is a VERY bad thing.
Having said that...Activision is in great hands and with Destiny and COD dropping later this year...it will only get better. 