Activision Blizzard (ATVID) Announces Self-Tender Offer To Purchase 146 Million Shares

July 16, 2008 8:17 AM EDT

Activision Blizzard, Inc. (Nasdaq: ATVID) 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% of Activision Blizzard's outstanding common stock as of July 9, 2008.

The tender offer will expire at 5:00 p.m., Eastern Daylight Time, on Wednesday, August 13, 2008, 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(R) World of Warcraft(R). 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, 2008. 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.
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