Activision Blizzard merger gets stockholder approval

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The Activision/Vivendi Games merger is now likely to get the go-ahead after Activision’s stockholders have agreed to the merger with Vivendi Games, the owners of Blizzard (the creators of World of Warcraft). The proposal saw more than 92 percent of the shareholders agree to the merger.

Under the deal, Vivendi will receive more than 295.3 million new shares of Activision, and the parent company will buy 62.9 million for $1.7 billion – meaning that Vivendi will have a 52% stake in the new company. The company will be still trading under Activision’s ATVI in Nasdaq.

The new merger also creates a new powerhouse, rivaling Electronic Arts – where the value of Activision Blizzard stands around $18.9 billion, comparing to EA’s capitalization on Monday’s market close of $14.1 billion.

The deal is expected to close on July 9.