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While Activision announced late last year that it signed an agreement to merge with Blizzard Entertainment, the deal wasn't official. Until now, that is, as the company announced today that over 92 percent of its shareholders voted in favor of the merger. Which to say the least, was expected.
Under the deal, Blizzard Entertainment and Sierra parent Vivendi Games will become a wholly-owned subsidiary of Activision, receiving 295.3 million in newly issued common stock. Consequently, Vivendi will purchase 62.9 million shares of new stock from Activision at $27.50 per share, a total investment of $1.7 billion.
The transaction is expected to close tomorrow and as result, Activision will officially be renamed Activision Blizzard. It will, however, continue to trade under its NASDAQ ticker ATVI.
Activision Stockholders Approve Combination with Vivendi Games
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