Vivendi’s Gameloft takeover may spark resignation of Ubisoft co-founder
Following Vivendi's shareholder-backed hostile takeover bid for mobile gaming developer Gameloft, Ubisoft co-founder and Gameloft CEO Michel Guillemot may be about to resign. "A person familiar with the matter" has confirmed Guillemot's pending resignation to Bloomberg, saying that Guillemot will join his brother (and Ubisoft CEO) Yves Guillemot in protecting Ubisoft from a similar Vivendi takeover.
Vivendi has been slowly buying up shares in Ubisoft as far back as October 2015, when it purchased a 6.6 percent share of the company (roughly 7.36 million shares at $161 million (£111 million)). It later upped its stake to 10.39 percent. Ubisoft–which remains a family run business—called the moves "unsolicited and unwelcome" at the time, but Vivendi continued undeterred, purchasing 30 percent of sister company Gameloft.
Vivendi finally convinced shareholders to part with their remaining stock by offering 50 percent over market value. The French media giant is now the majority shareholder at Gameloft, controlling around 56 percent of the vote.