WOW Vivendi and New Capital Structure
Activision Blizzard Announces Transformative Purchase of Shares from Vivendi and New Capital Structure Company to Buy Back Approximately 429 Million Shares from Vivendi for $5.83 Billion. Investor Group Led By CEO Bobby Kotick and Co-Chairman Brian Kelly to Separately Purchase Approximately 172 Million Activision Blizzard Shares from Vivendi for $2.34 Billion New Capital Structure Expected to Drive Meaningful Earnings-Per-Share Accretion.
A special committee of independent directors was formed to represent the Company in negotiating and evaluating the transactions.
Please see the Company’s Current Report on Form 8-K being filed with the Securities and Exchange Commission and the exhibits thereto for further information about the terms of the transactions.
Activision Blizzard’s financial advisor on the transaction is J.P. Morgan Securities LLC and its legal counsel is Skadden, Arps, Slate, Meagher & Flom LLP . The Special Committee’s financial advisor is Centerview Partners and its legal counsel is Wachtell, Lipton, Rosen & Katz . ASAC II LP’s financial advisor is Allen & Company LLC and its legal counsel is Sullivan & Cromwell LLP .
