Activision Sued Over Vivendi Merger
It seems like quite a long time ago that Activision and Vivendi announced they would be merging into Activision Blizzard. Now, two and a half months later, an investor group has sued Activision for failing to offer Activision stockholders “an opportunity to realize a true premium for their stock,” according to lawyers for the investors.
“The merger, stock purchase and tender offer, working in concert, convey control of Activision to Vivendi but fail to offer the Activision stockholders an opportunity to realize a true control premium for their stock,” the complaint reads, stating that Activision shareholders will be left an “unfavorable minority position.”
The complaint was filed by the Wayne County Employees’ Retirement System in Delaware Chancery Court on February 8.