Ubisoft Makes A Statement On Vivendi's Recent Comments Of The Ubisoft Takeover

Joann Johnston
November 18, 2017

Vivendi shares were down 0.2 percent to 21.62 euros at 0836 GMT. This month, Vivendi was legally obliged to make an offer to purchase Ubisoft - but only if their shares hit 30%. This is because Vivendi is trying to buy Ubisoft and Ubisoft thinks this is a hostile takeover they do not want and would prefer to remain in control of the company they now have.

Vivendi said on November 16 that it does not intend in the next six months to make a takeover offer for Ubisoft, the video-games publisher in which it is the largest shareholder. With Ubisoft already generating Vivendi plenty of money, Vivendi is allowing their shares to appreciate in value. Gameloft is the worldwide leader in mobile gaming downloads. "Given that this sector is the second largest in the content industry after music, the Group confirms its intention to continue to develop in this sector", the company wrote in its earning filings.

KitGuru Says: Ubisoft has had some missteps over the years, but I generally think that the publisher is heading in the right direction with games like Rainbow Six Siege, Watch Dogs 2 and Assassin's Creed Origins.

Reuters predicted that a move for a takeover would come before the end of the year but Vivendi's lower-than-expected third-quarter earnings coupled with a boon in Ubisoft's valuation means such actions will not happen for at least another six months.

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The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link . Also, SVP Forrest Eugene Norrod sold 27,828 shares of the business's stock in a transaction on Wednesday, December 28th.

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The filings also state that the French conglomerate recognizes the push-back from Ubisoft's Guillemot family and will no longer push for a seat on its board of directors.

It'll be interesting to see how this saga plays out, but Ubisoft is safe for now.

Now it looks like Vivendi won't currently be doing this.

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