Ubisoft is known for a lot of games and some of those games that the company happens to be over includes Far Cry 5 and Assassin’s Creed: Origins, two titles set to hit the market for mass consumption. However, according to several reports the company is still in a dangerous fight with Vivendi.
According to both Nasdaq via globenewswire.com and kitguru.net, the publisher and developer of many lesser and well known games, Ubisoft, seems to be in the process of buying back up to 4 million shares. The Globe states that…
“Ubisoft announced today that it has granted a mandate to an investment services provider with a view to repurchasing its own shares.”
If you don’t know, over the last year, the company known as Ubisoft has been fending off a hostile takeover from Vivendi. It’s worth noting that the CEO of Ubisoft, Yves Guillemot, has made it clear that he opposes a Vivendi takeover. However, in a recent notice sent out to investors, Ubisoft makes mention that it plans to buy back 4 million shares between October 5th and December 29th of 2017. This move was said to have been authorized at a September investor meeting on the 22nd.
According to the latter publication site, Vivendi, as of now, holds a 27 percent stake in Ubisoft. And under French law it is said that if Vivendi hits 30 percent, then it is required to prompt a “buyout offer.”
The publication site further explains that it is unclear whether Vivendi will actually make a buyout bid for Ubisoft or not, but given the consistent rise obviously indicates that the company is planning to do so.
Nevertheless, Ubisoft is said to be in the process of buying back shares, which is said to help delay Vivendi’s potential buyout. The latter site notes that all repurchased shares “will be canceled and the liquidity agreement concluded by the company will be temporarily suspended” this is set to take place “during the execution of the mandate.”
With that said, do you want the Vivendi takeover to go through or do you think that Ubisoft will do better without said company?
