Del. high court clears way for Activision-Vivendi deal to close
DOVER, Del., Oct 10 (Reuters) - The Delaware Supreme Court swept aside a lower court order on Thursday that had halted Activision Blizzard Inc's $8.2 billion deal to buy back its stock from Vivendi SA.
Chief Justice Myron Steele said after hearing an hour of arguments that the court's five justices unanimously found the lower court had erred when it blocked the deal because Activision shareholders were not given the chance to vote on it.
The ruling clears the way for the deal to close by its deadline of Tuesday, when Vivendi could have walked away.