Activision shareholders to decide merger with Vivendi July 8

By Lisa Kerner

Charlotte, N.C., June 9 - Activision, Inc. announced it will hold a special meeting of stockholders on July 8 at 2 p.m. ET to vote on the proposed merger of the company with Vivendi Games, Inc., the interactive entertainment business of Vivendi SA.

The record date for the meeting is June 5, according to an Activision news release.

In December, it was reported that Vivendi Games will combine with Activision in an $18.9 billion transaction to create Activision Blizzard.

The deal calls for Vivendi to purchase 62.9 million newly issued shares of Activision common stock for $27.50 each, or $1.7 billion, in cash for a controlling interest in the company, it was previously noted.

Vivendi Games will merge with a wholly owned subsidiary of Activision. Shares of Vivendi Games will be converted into 295.3 million new shares of Activision common stock for some $8.1 billion based on the transaction price of $27.50 per Activision share, according to a prior news release.

The proposed transaction, when first announced, was expected to close in the first half of 2008.

Following the transaction's close, Activision Blizzard will launch a $4 billion all-cash tender offer to purchase up to 146.5 million Activision Blizzard shares at $27.50 per share, the companies said.

Vivendi agreed to acquire from Activision Blizzard up to an additional $700 million of newly issued Activision shares at $27.50 per share.

Activision develops, publishes and distributes interactive entertainment and leisure products. The company is located in Santa Monica, Calif.

Vivendi is a digital entertainment company based in Paris. Vivendi Games participates in the subscription-based massively multi-player online role-playing games category.

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