Title: Activision Blizzard, Inc., et al. v. Hayes, et al.
Citation: N/A
Docket Number: 497, 2013
State: Delaware
Issuer: Delaware Supreme Court
Date: October 10, 2013

IN THE SUPREME COURT OF THE STATE OF DELAWARE 
 
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ACTIVISION BLIZZARD, INC., 
 
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PHILIPPE G.H. CAPRON, JEAN-YVES 
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CHARLIER, ROBERT J. CORTI, 
 
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FREDERIC R. CREPIN, JEAN-FRANCOIS 
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DUBOS, LUCIAN GRAINGE, BRIAN 
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G. KELLY, ROBERT A. KOTICK,   
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ROBERT J. MORGADO, RICHARD  
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SARNOFF, REGIS TURRINI, VIVENDI 
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S.A., ASAC II LP, AND ASAC II LLC, 
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Defendants Below,  
 
 
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Appellants,  
 
 
 
§ 
 
 
 
 
§ 
No. 497, 2013 
v. 
 
 
 
 
 
§ 
 
 
 
 
 
 
 
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Court Below-Court of  
DOUGLAS M. HAYES, ON BEHALF OF § 
Chancery of the State of 
HIMSELF AND ALL OTHERS 
 
§ 
Delaware, in C.A. No. 
SIMILARLY SITUATED AND  
 
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8885-VCL 
DERIVATIVELY ON BEHALF OF   
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NOMINAL DEFENDANT ACTIVISION 
§ 
BLIZZARD, INC.,  
 
 
 
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§ 
   
Plaintiff Below, 
 
 
 
§ 
 
   
Appellee. 
 
 
 
 
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§ 
 
Submitted:  October 10, 2013 
Decided:  October 10, 2013 
 
Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and 
RIDGELY, Justices, constituting the Court en Banc. 
 
 
O R D E R  
 
This 10th day of October, 2013, it appears to the Court that: 
IT IS HEREBY ORDERED that the Court unanimously concludes that 
the Court of Chancery’s judgment must be REVERSED.  We hold that there 
is no reasonable possibility of success on the merits.  The Stock Purchase 
Agreement here contested is not a merger, business combination or similar 
transaction.  An Opinion will follow in due course.  A special form of 
mandate will issue today reserving jurisdiction in this Court solely for the 
purpose of issuing the Opinion.   
BY THE COURT: 
 
 
 
 
 
 
  /s/ Myron T. Steele 
 
 
 
Chief Justice