Activision Blizzard has reached an $8.2 billion deal to separate from parent company Vivendi and become an independent corporation.
Under the deal, Activision Blizzard and a group of investors led by the company’s management will buy back shares owned by Vivendi.
The company will buy about 429 million of its shares and certain tax attributes from Vivendi for roughly $13.60 a share, or $5.83 billion total. In addition, Activision Blizzard CEO Bobby Kotick and co-chairman Brian Kelly are leading a group in buying roughly 172 million shares of the company for $2.34 billion.
Vivendi will still have a 12 percent stake in the company, or 83 million shares, but Kotick will continue to lead it and Kelly will become the sole chairman.
Thanks, New York Times.