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Activision Blizzard Slips 1%; Vivendi to Get $850 Mln Proceeds From 41.5-Mln-Share Sale

Activision Blizzard Slips 1%; Vivendi to Get $850 Mln Proceeds From 41.5-Mln-Share Sale

Activision Blizzard (ATVI) shares were lower over 1% in recent pre-market trade as it said Vivendi SA will receive proceeds of approximately $850 million from the sale of about 41.5 million of its shares. ATVI is trading close to the upper end of the 52-week range between $13.27 and $21.50. While Activision didn't name the exact price per share, the proceeds - if gross - suggest a price per share of $20.48, a discount to Wednesday's closing price of $20.87. After this sale, Vivendi will still own 41.5 million shares in the maker of video games and is restricted from selling these until January 2015, or 15 months after the Oct. 11, 2013 closing of Activision's buyback of Vivendi shares.

Activision Blizzard Slips 1%; Vivendi to Get $850 Mln Proceeds From 41.5-Mln-Share Sale