Activision Blizzard files an emergency appeal for buyback rights
It seems that Activision Blizzard just can't wait to get free of Vivendi. Not that the company is eager, but it literally cannot wait. The publisher had planned to essentially buy itself from its parent company, but following objections raised by a stockholder, the deal was put on hold by court order. Now the company has filed an emergency appeal, claiming that if the deal doesn't go through now, the company will have lost its window for self-ownership.
According to the appeal, it will not be possible to obtain a shareholder vote before October 15th, which is when the deal automatically terminates. This vote by non-Vivendi shareholders is a necessity for the deal to go through, and Activision Blizzard representatives state that this injunction leaves the company in limbo and jeopardizes an $8 billion exchange. The court has scheduled a hearing for October 10th -- a hearing that looks to either make or break the deal as a whole.
