Activision Stock Rises on Buyback

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Activision Stock Rises on Buyback

August 19, 2008

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Activision Blizzard has completed its tender offer to purchase up to 146.5 million of its own shares at $27.50 per share. The offer expired at market close on August 13.

The company ended up buying back 85,916 shares with cash on hand, bringing the total cost of the buyback to around $2.3 million.

Activision Blizzard stock rose 3 percent at market close on Tuesday to $35.18 (£18.84) following the announcement.

The purchase price per share for the buyback equaled the amount Vivendi paid when it bought stock from Activision as part of the business combination.

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