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Activision Shareholders Set to Vote on Blizzard Deal

Orange County Business Journal Staff

Shareholders of Santa Monica-based Activision Inc. are set to vote Tuesday on a proposed combination with Irvine-based Blizzard Entertainment Inc.

The move is part of Activision's acquisition by French company Vivendi SA in a deal valued at $19 billion.

Online game maker Blizzard is the dominant part of Vivendi's game unit.

The Activision shareholder vote had been challenged by a shareholder lawsuit that was rejected by a judge last week.

Delaware Chancery Court Judge William Chandler denied a request to block the meeting by Wayne County Employees' Retirement System, a Detroit pension fund that sued in February, claiming directors of Santa Monica-based Activision had not obtained the best deal for shareholders.

Chandler ruled that the pension fund failed to show that the additional information it wanted before the meeting was important to investors, according to a Bloomberg News report.

The deal is expected to create Santa Monica-based Activision Blizzard, with Vivendi ending up with a 68% stake.

The move is set to make Activision Blizzard the biggest video game developer with yearly sales of $4 billion.


  Feb. 8-14, 2010
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