UbiSoft Entertainment Inc.Grey Market
Fri, Sep. 23, 6:24 PM
- Still fighting off a hostile takeover from Vivendi (OTCPK:VIVHY +0.2%), Ubisoft (OTCPK:UBSFY +0.4%) has agreed to buy another 3.2% of its stock for $137.5M.
- The move comes ahead of Ubisoft's annual meeting next Thursday, where a board battle will come to a head.
- Vivendi began buying shares of Ubisoft and Gameloft (OTCPK:GLOFY -0.7%) -- both run by the Guillemot family -- last year, and attained the votes to control Gameloft in May. That company's CEO Michel Guillemot resigned after that, replaced by Vivendi COO Stephane Roussel.
- Ubisoft is buying 3.625M shares from Bpifrance for €33.80/share, for €122.5M total, in a transaction closing by the beginning of November. The company closed down 0.8% to €34.31 today in Paris.
Wed, Jun. 1, 11:22 AM
- Gameloft (OTCPK:GLOFY) founder and Chairman/CEO Michel Guillemot expects to resign after shareholders have backed a hostile bid for the company by Vivendi (OTCPK:VIVHY +0.1%), Bloomberg reports.
- France's market regulator today confirmed reports from yesterday that Vivendi had the votes to control the French game maker.
- Vivendi controls about 56% of votes and plans to appoint a majority slate at the June 29 annual meeting.
- Guillemot and his family now turn their attention to defending their other company, the bigger Ubisoft (OTCPK:UBSFY), also the likely target of a takeover by Vivendi. The Guillemots control 15% of votes there, while Vivendi owns about 18% of capital.
- Previously: Ubisoft threatens talent drain as Vivendi takeover defense (Mar. 23 2016)
Tue, May 31, 12:22 PM
- Vivendi (OTCPK:VIVHY -0.5%) now has the votes to take over Gameloft (OTCPK:GLOFY) after its unwelcome pursuit of the game maker, according to Les Echos.
- It was the acquisition of Amber Capital's roughly 30% stake earlier this month that made the difference, the paper says. Detailed figures aren't certain but it's expected that Vivendi has a 50%-plus voting stake now.
- Vivendi had accumulated around 15% of Gameloft and Ubisoft (OTCPK:UBSFY +2.2%), each controlled by the Guillemot family, through gradual purchases. It's unclear how much of Gameloft the Guillemots still control.
Thu, May 19, 1:49 PM
- Vivendi (OTCPK:VIVHY -1%) is increasing pressure on a videogame target by raising its hostile bid for Gameloft (OTCPK:GLOFY +3.7%) by 11%, to €8/share.
- The bid was automatically raised under French regulations when the media giant bought a bit of stock at that higher price compared to its €7.2/share bid. Gameloft shares were suspended for the day in Paris, where they were down 0.7% to €7.18.
- The offer is set to expire in eight days, and Gameloft is planning a board meeting to evaluate it.
- After a buildup, Vivendi holds 29.4% of Gameloft (and 26.5% of voting power). And its pursuit of one company may help another bid: Vivendi is also pursuing Ubisoft (OTCPK:UBSFY), controlled as Gameloft is by the Guillemot family.
- Now read UbiSoft Faces The Risk Of Takeover From Vivendi »
Wed, Mar. 30, 11:07 AM
- 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.
Tue, Mar. 1, 9:22 PM
- After a very resistant Gameloft (OTCPK:GLOFY +6.9%) rejected a €6/share buyout bid from Vivendi (OTCPK:VIVHY +1.3%) as too low, Vincent Bollore's media giant has increased its bid.
- After gradual purchases over the past several months, Vivendi raised its stake to more than 30% two weeks ago, and it's now raising its bid to €7.20/share after a unanimous rejection of the previous offer by Gameloft's board.
- The new bid values Gameloft at about €610M (about $663M). After closing yesterday in Paris at €6.79, shares gained 9.4% today to close at €7.43.
- Gameloft has until Thursday to decide on the new bid, though it hasn't signaled it's receptive to being taken over by the conglomerate at all.
- Meanwhile, Vivendi has also increased its stake in another takeover target, Ubisoft (OTCPK:UBSFY +6.1%), to 15.66%. Ubisoft closed up 6.4% today in Paris.
Oct. 22, 2015, 2:54 PM
- For the second time in a week, Vivendi (OTCPK:VIVHY -0.8%) boosted its stake in videogame creators Ubisoft (OTCPK:UBSFY -1.7%) and Gameloft (OTCPK:GLOFY) and signaled it may be more ambitious.
- Vivendi now holds 10.4% of Ubisoft and 10.2% of Gameloft for a total investment of €278.4M.
- The company said it could buy even more shares and seek board seats -- in spite of a statement from Ubisoft and separately from Gameloft last week affirming their independence.
- It's a clear course change for a Vivendi that was supposedly getting more focused on fewer businesses through divestment. But the company has been sitting on €9B in cash from those divestments and it appears to be putting it to work on a new convergence strategy.
- Previously: Vivendi takes stakes in game makers Ubisoft, Gameloft (Oct. 14 2015)