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Activision Blizzard separation put on hold

by on20 September 2013

The power of the shareholder court action

Activision Blizzard’s moves to separate from its parent company Vivendi has been put on hold. The move, which surprised many, angered one shareholder that he sued to prevent this from happening.

Delaware Chancery Court was told that the whole move is a huge waste meant to cover a power grab. But now the court has put the move on hold until it can be argued in court. In order for the separation to continue, either the injunction must be modified on appeal or a majority vote by non-Vivendi stockholders must come down in favor of continuing the process.

Activision Blizzard said it was exploring options to ensure it still takes place. Vivendi has been trying to get rid of Activision Blizzard for nearly a year now in hopes of boosting its shares.

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