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Activision shareholders approve Vivendi deal

LOS ANGELES (Reuters) - Activision Inc (ATVI.O: ) shareholders approved a deal on Tuesday to merge with French telecommunications and media group Vivendi SA's (VIV.PA: ) games unit, creating a public company called Activision Blizzard. Activision said 92 percent of shares voted were in favor of the merger, which is expected to close on July 9 . The deal gives Vivendi, creator of "World of Warcraft," a 52 percent ownership stake in the new company that would have annual revenue of $3.8 billion and more heft to take on Electronic Arts Inc (ERTS.O: ), the world's biggest independent game publisher. The deal was announced in December, but needed regulatory and shareholder approval before it was finalized. The transaction was approved by the European Commission in April. The deal will place pressure on Redwood City, California-... [read full story]                    

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