- 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)