Activision Blizzard Makes Self-Tender Offer

Jul 18, 2008 (M2 PRESSWIRE via COMTEX) -- ATVI | Quote | Chart | News | PowerRating -- Activision Blizzard, a pure-play online and console game publisher, announced the commencement of a tender offer to purchase up to 146,500,000 shares of its outstanding common stock at a price of $27.50 per share representing approximately 22 percent of Activision Blizzard's outstanding common stock as of July 9.

The tender offer will expire at 5 p.m., Eastern Daylight Time, on Wednesday, August 13, according to the company, unless extended. The tender offer is being made in connection with the business combination between Activision, Inc., now known as Activision Blizzard, Inc., and Vivendi Games, Vivendi's interactive entertainment business - which includes Blizzard Entertainment's World of Warcraft.

Under the terms of the business combination agreement, Activision Blizzard agreed to commence the tender offer within five business days after the closing of the business combination, which occurred on July 9.

The tender offer is subject to the terms and conditions specified in the offer to purchase, the letter of transmittal, and other related materials that are being mailed to holders of Activision Blizzard's common stock, the company said.

((Comments on this story may be sent to newsdesk@closeupmedia.com))

((Distributed via M2 Communications Ltd - http://www.m2.com))

http://www.10meters.com

Comments on this story may be sent to newsdesk@closeupmedia.com

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index