Mark Androvich
22:55 (BST)
02/07/2008
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Preliminary injunction denied in Activision merger
Activision has announced that a Delaware Court denied the preliminary injunction requested by a county employees retirement system seeking to stop the merger with Vivendi Games.
The group had filed suit back in February, alleging that the merger failed to offer stockholders an opportunity to realize a "true control premium" for their stock."
The company will be holding a stockholder meeting next Tuesday to consider and vote on proposals to approve the transaction. If approved, Activision anticipates closing the business combination on or about July 9.
Activision's stock closed today at USD 31.58 per share, down USD 2.53. Vivendi stock, meanwhile, last sold at EUR 23.67 (USD 37.60) per share.
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