Activision to Buy Back Most of Vivendi’s Controlling Stake

Activision Blizzard Inc. said it has reached an agreement to buy back nearly $6 billion worth of Vivendi SA’s holding in the company, ending months of negotiations over the fate of the videogame giant.

Santa Monica, Calif.-based Activision said Thursday it will buy 429 million shares for about $13.60 per share, reducing Paris-based conglomerate Vivendi from being majority shareholder. Activision said it would fund the purchase with $1.2 billion in cash on hand from its domestic accounts and approximately $4.6 billion in debt financing from banks including J.P. Morgan and Bank of America Merrill Lynch.

Read the rest of this post on the original site »


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »