Gameloft clashes with Vivendi following takeover bid

Vivendi has increased its stock in Gameloft, resulting in a battle for control of the mobile studio.

The media giant – and previous owner of Activision Blizzard – acquired more than 30 per cent of Gameloft’s stock, meaning it must now attempt to takeover the firm with a sensible offer, as dictated by French law.

Gameloft is led by Michel Guillemot, the brother of Ubisoft CEO Yves. Vivendi purchased 15 per cent of Ubisoft’s stock last year, as well as upping its investment in Gameloft. Yves referred to Vivendi’s attempted takeover of Ubisoft as “unsolicited and unwelcome”.

The Guillemot family expanded their investment in Gameloft to 25 per cent in 2015, working to counter what the siblings criticised as a “creeping takeover”.

Vivendi is attempting to get Gameloft shareholders on its side by offering €6 per share for the remaining stock – a 50 per cent rise on its price as of last October.

"Vivendi intends to offer Gameloft new development levers, both industrial and financial [and] is convinced that, as with its other businesses, the key to success for a company such as Gameloft is the development of its creative content and talent," the firm said in a statement.

"Vivendi and Gameloft share many commonalities, including French roots, an international dimension and a similar understanding of cultural diversity to meet the expectations of consumers in each country."

Gameloft’s board will meet later this week and issue a statement on the situation.