Activision Blizzard has reached a deal to buy itself back from Vivendi for over $8 billion. After the split, Activision Blizzard will be an independent company again, with a majority of its shares owned by the public. Bobby Kotick will remain CEO, with Brian Kelly as Chairman. Financially troubled French conglomerate Vivendi is out...well, not totally out, it still retains 83 million shares or about 12 percent of the company.

The price for Activision Blizzard's departure from Vivendi is roughly $5.83 billion in cash for 429 million shares. On top of that, Kotick, Kelly and others are purchasing 172 million shares from Vivendi for $2.34 billion. The math in both sums is some heavy multiplication of $13.60 per share.

"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."

He continued, "The transactions announced today will allow us to take advantage of attractive financing markets while still retaining more than $3 billion cash on hand to preserve financial stability."

Vivendi had been trying to sell its stake in Activision Blizzard for over a year now with no luck. A rather understandable predicament when Vivendi owned 702 million shares (61 percent) of Activision's 1.15 billion outstanding shares. At today's closing price, those shares were worth about $10.7 billion. We're not sure pooling all the change found between all the couch cushions in all the world would get us that type of dough. Continue reading Activision buys itself back from Vivendi for $8 billion
Activision buys itself back from Vivendi for $8 billion originally appeared on Joystiq on Fri, 26 Jul 2013 00:10:00 EST. Please see our terms for use of feeds.

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