The new company, dubbed Activision Blizzard, is valued at roughly $18.9B.

As per the terms of the merger, Vivendi Games will become a wholly-owned subsidiary of Activision, and receive approximately 295.3M shares of Activision stock. Vivendi will also purchase nearly 63 million shares of stock at a total value of $1.7B, making Vivendi's ownership stake in the newly created Activision Blizzard around 52%.

Announced late last year, the Activision Blizzard merger is one of the largest corporate consolidations in the history of the gaming industry.