The split Speaking in an industry email, Sebastian said this was the best outcome for Activision shareholders, as it leaves the company independent and provides significant EPS accretion for investors. "We believe this is a more favorable outcome for Activision shareholders than the alternative "special dividend" or sale of Vivendi's shares to an alternative strategic buyer," he said. 'As part of the deal announcement, Activision also pre-announced better-than-expected Q2 revenue." Activision announced last night it will buy back 429 million of its shares from Vivendi for $5.83 billion ($13.60/share).