The Delaware Supreme Court reversed the Court of Chancery’s decision in the Activision case, ruling that the trial court erred in holding that Activision’s $8.2 billion stock purchase from Vivendi, a French conglomerate that owns the world’s largest video game publisher, is not in fact a business combination.
“The court unanimously concludes that the Court of Chancery erred in its decision,” Chief Justice Myron T. Steele said on behalf of the en banc court. “We hold that there is reasonable possibility of success on the merits.”
