Vivendi Even More Close To Take Over Ubisoft
Despite Vivendi’s claim that they don’t have any intention of a hostile takeover on Ubisoft but it seems that they are getting there. This week Vivendi has purchased more of Ubisoft’s shares.
Vivendi has increased its share in the company to 25.15 percent and 22.92 percent of its voting rights. Previously, Vivendi had a 23 percent stake in the company.
According to French law, an individual or a company can only hold a 30 percent stake in a certain company if the company or the individual exceeds the 30 percent they will be obliged to launch a public offer for the company.
This summer Vivendi took over Gameloft from the Guillemot family after buying 29 percent of the company’s shares. But Vivendi has noted in a declaration filed with French securities regulator that it is not trying to take over the company. On the contrary, Vivendi wants to make a “fruitful cooperation with Ubisoft”.
Vivendi is not considering the launch of a public tender on Ubisoft nor acquiring the control of the company,” according to the press release on Vivendi’s official website. “Vivendi is hoping to build a fruitful cooperation with Ubisoft.
Vivendi further noted that the stock purchases are part of a strategic vision of working together with Ubisoft. Also, the company has noted that it still intends to buy more shares in order to “among other things, obtain board representation consistent with its shareholder position”.
Ubisoft is trying its best to prevent Vivendi from purchasing more of the company’s Stock. Recently, Ubisoft’s Vice President of live operations, Anne Blondel, said that the only thing that made the company successful is its independence and if it is taken away then it will not be the same.
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