The House of Guillemot bought more Ubisoft shares recently in an effort to stop a potential hostile takeover by French media corporation Vivendi.
Reuters reports today that the founding family of Ubisoft purchased more shares as referenced in a filing with the AMF stock market regulator. The Guillemots now control 13.6 percent of Ubisoft shares, and have 20.02 percent of voting rights. This is compared to the nine percent share capital the Guillemots controlled in Ubisoft a year ago.
Vivendi however still holds 27 percent of Ubisoft's share capital and control 24.5 percent of voting rights, meaning the Guillemots will need allies to prevent the long-brewing hostile takeover.
Vivendi has been making inroads to acquiring Ubisoft since October 2015, when Vivendi purchased 6.6 percent of the company's stock. Since then, Vivendi's motives for the video game publisher have been relatively clear, with Guillemot going as far as approach the Canadian government to help prevent a hostile takeover.