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Gameloft CEO: Family may increase stake to resist Vivendi

Mar. 30, 2016 11:07 AM ETGameloft SA ADR (GLOFY) StockVIVEF, GLOFF, UBSFF, UBSFY, VIVHY, GLOFYBy: Jason Aycock, SA News Editor
  • The founding Guillemot family may be increasing its stake in game maker Gameloft (OTCPK:GLOFY) in an effort to resist a hostile tender offer from Vivendi (OTCPK:VIVHY +0.8%).
  • CEO Michel Guillemot told Le Monde: "We could go on ... We don't have much debt."
  • Vivendi has been in pursuit of Gameloft and Ubisoft (OTCPK:UBSFY +3.6%) -- also founded by the Guillemots -- by increasing stakes in the two amid growing speculation that takeover bids were coming.
  • Vivendi launched a tender for Gameloft after it crossed the 30% stake threshold. It raised its offer to €7.20/share on Feb. 29; shares are trading in Paris today up 2.6% to €7.52. Vivendi also owns 15.66% of Ubisoft.

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