Gameloft involved in a possible buy out by Vivendi
A French-based, multinational media conglomerate, Vivendi is currently offering a mandatory takeover bid of mobile developer Gameloft.According to French law, once a one company controls 30% of the shares of another, they are required to submit an offer to buyout the rest of the shareholders at a price at least equal to the highest price they paid before reaching the 30% mark. The law is in place to ensure the ability of minority shareholders to sell their shares at a reasonable price in the case of a large company buying out a smaller one.
A French-based, multinational media conglomerate, Vivendi is currently offering a mandatory takeover bid of mobile developer Gameloft.
According to French law, once a one company controls 30% of the shares of another, they are required to submit an offer to buyout the rest of the shareholders at a price at least equal to the highest price they paid before reaching the 30% mark. The law is in place to ensure the ability of minority shareholders to sell their shares at a reasonable price in the case of a large company buying out a smaller one.
While many gamers will recognize Gameloft, a rather proliphic mobile developer, not many will initially recognize Vivendi. A company connected to TV, film, and music, Vivendi owns the likes of Dailymotion, Studiocanal, and Universal Music, and was even a former owner of NBC Universal.
The conglomerate is no stranger to video games however. Until 2013, the company was the owner of Activision Blizzard, until the studio bought itself out with $8.2 billion, effectively becoming independent. Vivendi does however still own a 14.9% stake in Ubisoft.
This past fall, when asked about the possibility of a Vivendi takeover of Ubisoft, Ubisoft CEO Yves Guillemot accused the conglomerate of “aggressively pursuing companies within the entertainment sector,” even when it’s “unsolicited and unwelcome.”
Continuing, he said, “Our intention is and has always been to remain independent, a value which, for 30 years, has allowed us to innovate, take risks, create beloved franchises for players around the world.”
In the wake of Vivendi’s buyout offer of Gameloft, many are looking to what will happen next between the conglomerate and Ubisoft. If the story continues to develop, you’ll find it right here on Gamespresso.