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Activision Blizzard Buys Back 429 Million Shares From Vivendi
Activision Blizzard has bought back all its shares from Vivendi, some 429 million worth 5.83 billion or $13.60 per share. The buy back will now leave Activision Blizzard as an independent publicly traded company, although Vivendi will still retain 83 million shares.
Bobby Kotick, CEO of Activision Blizzard, gave the following about the buy back,
“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.”