Vivendi has ruled out a hostile takeover of Ubisoft for the next six months after the release of third-quarter earnings reports.
Reuters reports that Vivendi has made the decision due its third-quarter earnings before interest, tax, and amortization came in at 293 million Euros rather than a projected 324 million Euros.
Ubisoft, on the other hand, is up 96 percent since January and has beaten sales targets for a record high for the company.
The company has been fighting a potential takeover from Vivendi since 2016 when a hostile takeover bid was backed by Gameloft. Earlier this year Ubisoft announced a buy-back program to regain control of its stock and prevent the media conglomerate from taking over.
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Reuters reports that Vivendi has made the decision due its third-quarter earnings before interest, tax, and amortization came in at 293 million Euros rather than a projected 324 million Euros.
Ubisoft, on the other hand, is up 96 percent since January and has beaten sales targets for a record high for the company.
The company has been fighting a potential takeover from Vivendi since 2016 when a hostile takeover bid was backed by Gameloft. Earlier this year Ubisoft announced a buy-back program to regain control of its stock and prevent the media conglomerate from taking over.
Continue reading…
Continue reading...