Activision Blizzard, Inc., Philippe G.h. Capron, Jean-Yves Charlier, Robert J. Corti, Frederic R. Crepin…

Summary

The court held that Activision’s charter did not require a public-stockholder vote before the company repurchased shares from Vivendi under the stock purchase agreement. The transaction separated Vivendi from Activision’s control rather than combining or intermingling their businesses, and the use of a shell subsidiary did not change that substance. The court therefore vacated the preliminary injunction and remanded for further action.