Business

Activision soars on Vivendi move

Activision Blizzard and a group led by Chief Executive Officer Bobby Kotick agreed to buy most of Vivendi’s stake in the company, the biggest US video game publisher, for $8.17 billion. The stock soared 15 percent to 17.46.

The maker of “Call of Duty” and “World of Warcraft” will take on debt to buy shares held by Paris-based Vivendi for $13.60 each, or $5.83 billion. Kotick and partners including co-Chairman Brian Kelly, Chinese game maker Tencent Holdings, Leonard Green & Partners, Davis Advisors and Fidelity Management & Research Co., will pay $2.34 billion, according to a statement yesterday and a company filing.

The accord ends five years of control over Activision by the French media and telecommunications company, and months of uncertainty for the Santa Monica, Calif.-based video game company as its departing parent sought ways to reduce debt. Activision and Kotick are buying out Vivendi at a 10 percent discount to yesterday’s closing price and said the terms would lead to faster profit growth this year.