Vivendi Looking To Purchase Ubisoft In Hostile Takeover
An article over at The Globe and Mail describes what can only be described as a hostile takeover by media giant Vivendi, who is currently pursuing Gameloft in which Vivendi owns 30% of their shares.
Vivendi spoke to Deadline their plans which seemingly lead to Ubisoft CEO, Yves Guillemot, to look to Canadian investors to keep control over the company he started with his brothers in France, over 30 years ago.
Vivendi currently owns 15% stake in Ubisoft, which if successful, will put over 3,000 jobs at Ubisoft studios all over Canada.
At stake are more than 3,000 Ubisoft jobs in Montreal, Quebec, Toronto and Halifax, and hundreds of millions in capital invested since the company opened its first studio in Canada in 1997. Quebec has the most to lose, with Ubisoft representing a pillar of its multimedia industry.
“We want to increase the number of Canadian shareholders in Ubisoft to have better control over the capital,” Mr. Guillemot said, adding he’s approaching investors with longer-term investment horizons who have a feel for the company’s history and corporate culture. “We feel it’s a good defence.”
Hopefully, this doesn’t end in a way that leaves Ubisoft a shell of its current structure, forcing the creative minds currently employed to seek work elsewhere.