Ubisoft announces that it will buy back up to four million of its own shares in 2017, in a move to try and fight off a long-suspected takeover bid from Vivendi.
The CEO of Vivendi subsidiary Gameloft suggests that the company may be about to shelve its plans to acquire Ubisoft, in favor of purchasing another developer.
According to anonymous sources speaking with Reuters, French media company Vivendi plans on finishing its hostile takeover of Ubisoft by the end of the year.
Despite efforts by Ubisoft to prevent Vivendi from becoming a majority shareholder, Vivendi acquires more of Ubisoft’s stock, increasing its share of the company.
Ubisoft officials confirm that Vivendi is attempting a hostile takeover of the company, buying large quantities of shares, possibly in an attempt to become a major shareholder.