Activision Blizzard Gets Court OK for Stock Buyback
October 10, 2013 by Paul AusickActivision 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.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.