Game publishers Activision Blizzard have announced that they will be buying the company from parent firm Vivendi in a deal that will total around $8 billion.
Activision Blizzard as a company will be paying $5.83 billion for 429 million shares, reports The Guardian. Activision Blizzard CEO Bobby Kotick and his co-chairman Brian Kelly have also formed a company called ASAC II LP which they will use to purchase a further 172 million shares in the company for the sum of 2.34 billion.
Bobby Kotick said in a statement regarding the buyout “These transactions together represent a tremendous opportunity for Activision Blizzard and all its shareholders, including Vivendi.”
“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. 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.”
Source: The Guardian