Apps & Software
Activision Blizzard Gets Court OK for Stock Buyback
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Activision will pay $13.60 a share for 429 million shares ($5.83 billion), and the company’s CEO and chairman will pay the same per share price for another $172 million shares ($2.34 billion) through an investment vehicle called ASAC II LP. When the deal was announced in late July, Activision said it believed the transaction would yield a pro-forma 2013 earnings per share (EPS) increase of 18% to 29% on a GAAP basis and 23% to 33% on a non-GAAP basis.
A couple of days after the deal was announced Activision’s stock posted an all-time high above $18 a share. Shares have given about half that gain back since then, but are trading up about 3.7% Thursday afternoon at $16.88 in a 52-week range of $10.45 to $18.43.
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