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Report: “Vivendi Takeover of Gameloft” Seems Inevitable, Ubisoft Is Next
For those who keep an close eye game industry are not strangers to Vivendi taking over game companies, and it seems that is just a matter of time that we would be reading the headline “Vivendi takeover of Gameloft” .
According to a report Bloomberg, Vivendi has the support of majority of Gameloft shareholders in a hostile bid to take over the company, which gives Vivendi enough leverage to progress the acquisition.
Recently Amber Capital, one of the biggest shareholder of Gameloft, offered it’s support to Vivendi. Right now Vivendi owns 30 percent of Gameloft shares and with even more stock offers, “Vivendi takeover of Gameloft”is inevitable.
According to the report The Guillemot family, which runs the Gameloft and larger Ubisoft Entertainment, will not let it’s shares go in the hands of Vivendi. That is why Ubisoft is seeking investment from both provincial and national governments of Canada, in a desperate attempt to keep it’s independence.
According to the report that takeover of Gameloft will clear the way for a bigger battle between Vivendi and The Guillemot family, as Vivendi has its eyes set on Ubisoft. Vivendi currently owns 17.7 percent of Ubisoft’s shares and is currently seeking board representation at Ubisoft.
Antoine Bonduelle, fund manager at Alma Capital & Associes in Paris said:
A first door has been unlocked with Gameloft. The focus and the battle are now clearly on Ubisoft.
The Guuillemot Family, who owns both Gameloft and Ubisoft, are making sure to counter the attempts of Vivendi to takeover Gameloft.
In order to achieve that the company filed an appeal against the ruling made by market regulator which allows Vivendi to takeover,however, the appeal was unsuccessful. Gameloft also granted its employees severance pay in case of Vivendi takeover.
Previously Vivendi owned 63 percent of Activision Blizzard’s shares, in 2013 Activision Blizzard bought back its freedom for approximately $8 billion.
However, Ubisoft had a prosperous year with successful titles like the Division, the company might be able to hold its own against Vivendi.