Vivendi Wins Majority Backing in Hostile Bid for Gameloft
May 31 2016 - 1:17PM
Dow Jones News
By Nick Kostov
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 EUR8 a share, valuing the
videogames company at close to EUR700 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 13:02 ET (17:02 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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