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User Info	Vivendi, Activision to Create $18.9 Billion Venture ; entered at 2007-12-02 12:50:46
Tacoflavored Posts: 110 Registered: 2007-09-07 Tortilla Flats	Is the "Monday morning M&A put" back on? Dec. 2 (Bloomberg) -- Vivendi SA agreed to combine its games unit with Activision Inc. in an $18.9 billion transaction that will create the largest maker of video games. Vivendi Games will contribute $1.7 billion in cash to the new company and take a 52 percent stake in the venture, the companies said in a statement today. After the merger closes, the combined company will make an offer to buy back as much as $4 billion in shares at $27.50 each, or 24 percent more than Activision's closing price on Nov 30. The new company, called Activision Blizzard, will combine Vivendi's top-selling online game ``World of Warcraft'' with the ``Guitar Hero'' and ``Call of Duty'' franchises owned by Santa Monica, California-based Activision. The venture will have about $3.8 billion in sales this year on a pro-forma basis, the companies said, surpassing market leader Electronic Arts Inc. The new company will trade on the Nasdaq Stock Market under the symbol ATVI. Activision, which has gained 28 percent this year, rose 18 cents to $22.15 on the Nasdaq Nov. 30. Paris-based Vivendi advanced 49 cents to 31.39 euros.