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Activision to buy $8.2 billion of its own shares from Vivendi on Oct. 15

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Activision is free to buy back its own shares from current parent company Vivendi, now that the Delaware Supreme Court has overturned a ruling that prevented the deal from going down. The transaction is expected to be completed on October 15.

Activision will buy 429 million of its own shares from Vivendi for $5.83 billion in cash, while Activision CEO Bobby Kotick and Co-Chairman Brian Kelly will separately purchase 172 million shares from Vivendi for $2.34 billion in cash. After the deal, Activision will have no one to answer to but itself – and all of its remaining shareholders.

A lower Delaware court halted the transaction earlier this year after an investor sued, alleging the Activision board breached its duties by not putting the deal to a shareholder vote. Activision announced on September 24 its plans to appeal that ruling.

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