Gameloft says no to Vivendi’s takeover bid

by bold-lichterman

The board of directors of the game publisher Gameloft officially rejects the Vivendi group’s takeover bid, which was filed on February 18, 2016 with the AMF (the Autorité des marchés financiers). This decision would have been taken unanimously by the members, it is reported.

More in detail, the company of Michel Guillemot estimates in a press release that “since the sale more than a year ago of its games activity, Vivendi, whose turnover is largely generated by television paying with Canal + and by music with Universal Music, no longer has any activity likely to bring synergies to Gameloft ”. The board of directors also points out “the insufficiency of the financial terms of the offer” or even aspects related to human resources such as “the destabilization of the Gameloft teams resulting from this hostile offer”.

256 million euros turnover in 2015

As a reminder, Vivendi announced in mid-February that it had filed a takeover bid on Gameloft for a price of 6 euros per share. Vincent Bolloré’s group also indicated that it held 30% of the capital. In addition, a little earlier, in January, Vivendi sold all of the shares it held in Activision Blizzard.

Founded in 1999, the listed company Gameloft has more than 6,000 employees and claims 147 million unique players each month with its various digital games and distribution in around 100 countries. In 2015, the company generated a turnover of 256 million euros.