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+--- Thread: News - Ubisoft to repurchase 4M shares as it continues fight against Vivendi (/thread-83471.html)
News - Ubisoft to repurchase 4M shares as it continues fight against Vivendi - xSicKxBot - 10-07-2017
Ubisoft to repurchase 4M shares as it continues fight against Vivendi
<div style="margin: 5px 5% 10px 5%;"><img src="https://www.sickgamedev.win/wp-content/uploads/2017/10/ubisoft-to-repurchase-4m-shares-as-it-continues-fight-against-vivendi.jpg" width="200" height="200" title="" alt="" /></div><div><p>Ubisoft plans to buy back up to 4 million shares to fend off a hostile takeover from French media conglomerate Vivendi. </p>
<p><a href="https://globenewswire.com/news-release/2017/10/04/1140851/0/en/UBISOFT-ENTERTAINMENT-UBISOFT-ANNOUNCES-A-BUY-BACK-PROGRAM-UP-TO-4-MILLION-SHARES.html">In a brief press release</a>, the <em>Assassin’s Creed</em> creator explained it’s granted a mandate to an unnamed investment services provider, allowing it to repurchase shares on Ubisoft’s behalf. </p>
<p>All repurchased shares will then be cancelled by Ubisoft, preventing them from being reissued on the market and potentially purchased by Vivendi. </p>
<p>It’s another small victory for the studio, which is attempting to secure its independence and push back against Vivendi’s repeated advances. </p>
<p>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. </p>
<p>The threat of a hostile takeover has been looming over Ubisoft for some time now, with Vivendi <a href="https://www.gamasutra.com/view/news/256280/Former_Activision_owner_Vivendi_takes_stakes_in_Ubisoft_Gameloft.php">first buying into the company back in 2015</a>. </p>
<p>Since then, Ubisoft has come out on the offensive, and has reiterated its desire to remain autonomous time and time again.</p>
<p>It’s a tactic that seems to be working, with Vivendi CEO Stephane Roussel <a href="https://www.gamasutra.com/view/news/306459/Vivendi_unsure_whether_to_drop_Ubisoft_stock_or_attempt_a_takeover_says_exec.php">recently revealing</a> the company isn’t sure whether to table a takeover bid or simply sell off its stock and move on. </p>
<p>The latter would surely be welcomed by Ubisoft’s founding family, the Guillemots, who <a href="https://www.gamasutra.com/view/news/300626/Guillemot_family_raise_Ubisoft_stake_to_fend_off_Vivendi.php">recently raised their own stake in the company</a>. </p>
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