Delaware Supreme Court will allow $8.17 billion Activision/Vivendi deal to proceed

The $8.17 billion deal between Vivendi, Activision, and a third-party investment group will move ahead, and Activision chief executive Bobby Kotick and his friends will take over about a quarter of the publisher at a deep discount.

The Delaware Supreme Court today overturned a lower-court ruling that halted the buyout. Delaware Chief Justice Myron Steele announced that the court unanimously found that the proposal does not need the approval of minority shareholders.