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

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.

This article was originally published on Joystiq.