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Activision Blizzard will become an independent company after a ten-digit buyback from Vivendi, Joystiq report. According to same source, company CEO Bobby Kotick and chairman Brian Kelly have purchased a total of 601 million shares at $13.60 per share as a result of this departure.
Although Vivendi are still not completely out, as of currently they only own 83 million shares, putting them at 12% ownership down from the 61%. Vivendi were also reported to have been trying to sell part or all of what they used to own in Activision Blizzard but a total worth of $10.7 billion made that a hard task to carry on.
"These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi," said Kotick. "We should emerge even stronger – an independent company with a best-in-class franchise portfolio and the focus and flexibility to drive long-term shareholder value and expand our leadership position as one of the world's most important entertainment companies."
Source: Joystiq.com
