June 7, 2016 / 12:00 PM / in 2 years

Gameloft founding Guillemot family says to sell stake to Vivendi

PARIS, June 7 (Reuters) - Gameloft’s founding Guillemot family said on Tuesday that it would sell its stake to Vivendi, following the unsolicited bid from the media giant.

“The Guillemot family announces that it has decided, with regret, to tender the bulk of its shares to the hostile takeover bid initiated by Vivendi,” the family said in a statement.

The Guillemot family owned 22.43 percent of Gameloft shares as of April 14, according to Reuters data.

Vivendi, which raised its bid for the mobile video games maker to 8 euros a share on May 19, held 61.71 percent of Gameloft shares and 55.61 percent of voting rights on May 31, according to French markets regulator AMF. (Reporting by Mathieu Rosemain and Gwenaelle Barzic; Editing by James Regan)

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