Ubisoft plans to buy\u00a0back up to 4\u00a0million shares to fend off a hostile takeover from French media conglomerate Vivendi.\u00a0<\/p>\n
In a brief press release<\/a>, the Assassin’s Creed<\/em> creator explained it’s granted\u00a0a mandate to an unnamed investment services provider, allowing it to repurchase shares on Ubisoft’s behalf.\u00a0<\/p>\n All repurchased shares will then be cancelled by Ubisoft, preventing them from being reissued on the market and potentially purchased by Vivendi.\u00a0<\/p>\n It’s another small victory for the studio, which is attempting to secure its independence and push back against Vivendi’s repeated\u00a0advances.\u00a0<\/p>\n Vivendi currently holds a 26 percent stake in Ubisoft, and French law would require the firm to make a mandatory takeover bid once it owns more than 30 percent.\u00a0<\/p>\n The threat of a hostile takeover has been looming over Ubisoft for some time now, with Vivendi first buying into the company back in 2015<\/a>.\u00a0<\/p>\n Since then, Ubisoft has come out on the offensive, and has reiterated its desire to remain autonomous time and time again.<\/p>\n It’s a tactic that seems to be working, with\u00a0Vivendi CEO Stephane Roussel recently revealing<\/a>\u00a0the company isn’t sure whether to table a takeover bid or simply sell off its stock and move on.\u00a0<\/p>\n