French media conglomerate Vivendi has been amassing Ubisoft shares over a course of two years. The company is the biggest shareholder at the moment owning approximately 26% of Ubisoft's shares. By French accounting law, Vivendi is obligated to make a mandatory bid once their shareholder percentage surpasses the 30% mark. Earlier this year, the French giant made it clear that the hostile takeover would happen before the year ends. It won't be their first rodeo, since they took over Gameloft not so long ago. The gaming sector is the second largest in the content industry after all, so you can't hardly blame Vivendi for wanting a bigger piece of the pie. However, business plans do change over time. According to Vivendi's recent third-quarter financial report, the company has postponed the Ubisoft takeover for at least another six months.
The official press release quotes Vivendi saying:
Nevertheless, concerning Ubisoft, in anticipation of the receipt of double voting rights on its Ubisoft shares on
November 23, 2017, Vivendi states that in the next six months:
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The official press release quotes Vivendi saying:
Nevertheless, concerning Ubisoft, in anticipation of the receipt of double voting rights on its Ubisoft shares on
November 23, 2017, Vivendi states that in the next six months:
- it does not intend to file a public tender offer for Ubisoft shares nor to acquire control of the company. To this end, Vivendi will ensure that its interest in Ubisoft will not exceed the threshold of 30% through the doubling of its voting rights; and
- in view of the opposition expressed by Ubisoft's executive management, Vivendi will not seek representation on its board of directors.
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