Ubisoft founders Guillemot, buy 2 million shares to counter Vivendi

As Bloomberg wrote earlier, the European titan Vivendi is planning to "Target Hostile Bid for Ubisoft" by the end of this year. As a counter measure, Guillemont has acquired a bit over 2 million shares for an undisclosed price.

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ImGumbyDammit259d ago

With over 540 million shares outstanding Guillemot needs a lot more than a few million additional shares in their pocket to fight off a possible hostile takeover from Vivendi.

Pandamobile259d ago

Vivendi recently bought out another large company, so their cash reserves are down to basically nothing compared to where they were at a few years ago.

"However Ubisoft won't come cheap--Reuters estimates that Vivendi may have to pay $6 billion to wrestle control of the company away from the Guillemot family. Vivendi's net cash plummetted to $540.355 million as of March 2017, down 1253% since 2015 where it had $7.31 billion net cash."