Edging ever closer to that hostile takeover line…
It looks like Ubisoft is in some deep trouble- as of right now, Vivendi own 25.15% of Ubisoft, and 22.92 percent of its voting rights. With regards to the continuing gradual takeover of Ubisoft, going forward, Vivendi said that they are “considering continuing to acquire shares,” but that, “[they are] not considering the launch of a public tender on Ubisoft nor acquiring the control of the company.” They also added that they “continue to seek a recomposition of the Ubisoft Board of Directors in order to, among other things, obtain Board representation consistent with its shareholder position.”
Ubisoft, however, responded with a statement of their own. CEO Yves Guillemot vociferously argued that Vivendi does not deserve representation on Ubisoft’s board. “As you’re well aware, Vivendi claims that their stake in Ubisoft deserves board representation. We have always strongly opposed that claim, on the basis that the many conflicts of interest and their creeping control approach would be negative for our company, our employees and our shareholders,” he said.
This is a mess, and I really hope that this saga resolves itself soon, and in Ubisoft’s favor- for all of their other faults and excesses, they remain one of the most creative AAA publishers in the industry, and I would hate to see them go.