Activision Blizzard has announced its intention to purchase 146,500,000 shares of its own stock at a price of $27.50 per share, reports GamesIndustry.biz. The offer to self-tender the share shares, which translate to approximately 22 per cent of the company, will expire at 5:00 p.m. Pacific on Wednesday, August 13, barring any extensions.

According to GamesIndustry.biz, "Activision Blizzard agreed to commence the tender offer within five business days after closing the deal on July 9."