Activision Merger Vote a ‘Go’

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An Activision Inc. investor’s bid to stop a July 8 shareholder vote on the company’s proposed merger with Vivendi SA was rejected by a judge on Tuesday.

Delaware Chancery Court Judge William Chandler on Tuesday 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.

Paris-based Vivendi said in December it wanted to buy a majority stake in Activision in exchange for its $8.1 billion video-game unit and $1.7 billion in cash.

The combined company would then make an offer to buy back as much as $4 billion of Activision shares at $27.50 each.

Shares of Activision were down 83 cents, or 2.4 percent, to $33.28 as of midday on the Nasdaq.

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