Vivendi Wins Majority Backing in Hostile Bid for Gameloft
May 31 2016 - 12:30PM
Dow Jones News
PARIS—Vivendi SA appears to have prevailed in its efforts to
gain control of Gameloft SE, pushing further into videogames after
re-entering the sector last year.
The French media group has amassed 67.1% of Gameloft's capital
and controls at least 55.6% of the votes after it launched a tender
offer for its shares, according to a statement on the preliminary
result of the offer Tuesday from the French stock market regulator.
It bought the shares of Gameloft at €8 a share, valuing the
videogames company at close to €700 million ($780 million).
The takeover is a major victory for Vivendi in its protracted
battle to take control of two Paris-based videogame companies.
Since October, Vivendi has been buying shares in Gameloft, a
company with successes in making games for mobile phones, and
Ubisoft Entertainment SA, known for franchises like "Assassin's
Creed" and "Tom Clancy's the Division." But the Guillemot family,
which ran both companies, argues that Vivendi doesn't know the
business.
Write to Nick Kostov at Nick.Kostov@wsj.com
(END) Dow Jones Newswires
May 31, 2016 13:15 ET (17:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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