LOS ANGELES (AP) — A U.S. court has delayed the $8.2 billion sale of Vivendi's stake in Activision Blizzard Inc. back to the video game maker and an investor group led by CEO Bobby Kotick and co-chairman Brian Kelly.
Activision said Wednesday that the Delaware Court of Chancery said the deal required a vote by non-Vivendi stockholders.
Vivendi SA, a French media conglomerate, and Activision say they intend to proceed with the transaction.
In July, Vivendi announced it would sell most of its majority stake in Activision, the maker of "World of Warcraft" and "Call of Duty." Activision itself would buy $5.83 billion worth of shares at $13.60 apiece while the investor group would purchase another $2.34 billion worth.
Shares of Santa Monica, Calif.-based Activision fell 3 percent to $17.15 in after-hours trading.
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If the fee was enacted as planned in the New Starts application, the expected $555 million in revenue would almost double the amount of taxes and fees motorists currently pay to the state through gas taxes
Ronald Nored, guard for the Butler University basketball teams that went to back-to-back Final Fours in the NCAA Tournament, has already landed his first coaching gig. The former Bulldog will lead the Brownsburg High School Bulldogs.
The university announced Blue III, also known as Trip, on Thursday. He was born Dec. 23 in Indiana. The university's current live mascot, Blue II, remains with the school.