Activision Blizzard Remains Committed to Transaction with Vivendi

  Activision Blizzard Remains Committed to Transaction with Vivendi

Business Wire

SANTA MONICA, Calif. -- September 18, 2013

Activision Blizzard, Inc., a global leader in interactive entertainment,
announced today that the Delaware Chancery Court, in Hayes v. Activision
Blizzard, Inc., preliminarily enjoined the previously announced concurrent
transactions between the Company and ASAC II LP, on the one hand, and Vivendi,
S.A., on the other hand, halting the closing of the transaction unless the
injunction is modified on appeal or the transaction is approved by a
stockholder vote of the non-Vivendi stockholders.

Activision Blizzard remains committed to the transaction and is exploring the
steps it will take to complete the transaction as expeditiously as possible.

Under the terms of the transaction, the Company will acquire approximately 429
million Company shares and certain tax attributes from Vivendi, S. A. for
approximately $5.83 billion in cash or $13.60 per share. In a separate but
simultaneous transaction, ASAC II LP, the investment vehicle led by Activision
Blizzard CEO Bobby Kotick and Co-Chairman Brian Kelly, will concurrently
purchase approximately 172 million Company shares from Vivendi for
approximately $2.34 billion, in cash or $13.60 per share. The closing of the
transactions is also subject to the terms and conditions previously described
in Activision Blizzard’s report on Form 8-K dated July 25, 2013.

About Activision Blizzard:

Activision Blizzard, Inc. is the world’s largest and most profitable
independent interactive entertainment publishing company. It develops and
publishes some of the most successful and beloved entertainment franchises in
any medium, including Call of Duty®, Skylanders®, World of Warcraft®,
StarCraft® and Diablo®. Headquartered in Santa Monica California, it maintains
operations throughout the United States, Europe, and Asia. Activision
Blizzard, Inc. develops and publishes games on all leading interactive
platforms and its games are available in most countries around the world.

Forward-looking statements:

This press release contains forward-looking statements including, but not
limited to, those relating to the transactions and whether or not the Company
will consummate the transactions and the timing of the transactions.

The forward-looking statements in this release are based upon information
available to the Company as of the date of this release, and the Company
assumes no obligation to update any such forward-looking statements. Although
these forward-looking statements are believed to be true when made, they may
ultimately prove to be incorrect. These statements are not guarantees of
future events and are subject to risks, uncertainties and other factors, some
of which are beyond its control and may cause actual results to differ
materially from current expectations.


Activision Blizzard Investor Relations:
Kristin Southey
Sr. Vice President, IR and Treasurer
(310) 255-2635
Activision Blizzard Media:
Maryanne Lataif
SVP, Corporate Communications
(310) 255-2704
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