Delaware Court of Chancery Halts Closing of Vivendi/Activision Blizzard Deal Pending Stockholder Vote | Practical Law
The Delaware Court of Chancery halted the closing of a transaction in which Activision Blizzard, Inc. would buy back much of its stock from its parent, Vivendi, S.A., holding that the phrase "business combination" in Activision Blizzard's certificate of incorporation encompassed the proposed transaction, even though Vivendi would own less of Activision Blizzard once the transaction is complete.