Ubisoft is getting taken over by Vivendi, wants Canada's help fighting

Vivendi might attempt a hostile takeover of Ubisoft through absorption by buying a majority stake in the company, and Ubisoft is calling on your help.

@wesjanson99
Published Fri, Feb 26 2016 11:06 AM CST   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Ubisoft might be in financial danger, and in their weakest moment the French multimedia powerhouse, Vivendi, is attempting a hostile takeover to acquire the game company and add it to their extensive portfolio.

Ubisoft is getting taken over by Vivendi, wants Canada's help fighting | TweakTown.com

To stop the buyout from happening, Ubisoft is trying to appeal to the Quebec provincial government and even the national Canadian government to help keep from being absorbed. They're calling for investors around the world to help them in their endeavor.

"We want to increase the number of Canadian shareholders in Ubisoft to have better control over the capital. ... We feel it's a good defense." Yves Guillemot said in a statement about the current attempt by Vivendi to buyout their company.

Back in October Vivendi started buying shares in Ubisoft, able to purchase enough stock to have a 10.39% stake in the company. According to French law, if they happen to have over a 30% stake in Ubisoft, they have to submit a takeover bid of the company. The CEO of Ubisoft, Yves Guillemot doesn't want that to happen and wishes to instead remain independent of a majority control from one entity.

NEWS SOURCE:gamasutra.com

Jeff grew up in the Pacific Northwest where he fell in love with gaming and building his own PC’s. He's a huge fan of any genre of gaming from RTS to FPS, but especially favors space-sims. Now he's stepped into the adult world by becoming a professional student looking to break into the IT Security world. When he’s not deep in his studies, he’s deep in a new game, revisiting an old game, or testing the extreme limits of his own PC. He's now a news contributor for TweakTown, looking to bring a unique view on technology and gaming.

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