EntertainmentGamesTencent reportedly looking to raise stake in Ubisoft

Tencent reportedly looking to raise stake in Ubisoft


- Advertisment -spot_imgspot_imgspot_imgspot_img

Reuters sources say online giant could offer more than twice current share price to become publisher’s largest shareholder

Tencent is looking to acquire a larger piece of Ubisoft and is willing to pay a significant premium for it, according to a Reuters report.

Citing “four sources with direct knowledge of the matter,” Reuters says Tencent wants to become the single largest shareholder in the Assassin’s Creed publisher, and is willing to pay up to €100 ($102) per share to make it happen.

Ubisoft shares opened today’s trading at €42.24 ($43.03), making an offer of that size a 137% premium on the price. After Reuters published its report, Ubisoft shares were trading up 15% to €48.33 ($49.24).

Tencent reportedly plans to purchase some of its increased stake from the Guillemot family, which currently owns about 15% of the publisher, and some from public shareholders.

It is unclear how much of a total stake Tencent is seeking in the company.

“Tencent is very determined to nail down the deal as Ubisoft is such an important strategic asset for Tencent,” one of Reuters’ sources said.

Tencent acquired a 5% stake in Ubisoft in 2018 from Vivendi after the latter company’s hostile takeover push fell apart.

Reports of interest in an Ubisoft acquisition have been making the rounds for months now, with multiple private equity firms and the Guillemot family among the parties reported considering buying the company outright.

In May, Dealreporter cited people familiar with takeover discussions as saying an offer of €100 per share would be an appropriate valuation for a takeover attempt due to Ubisoft’s long-term prospects.

Read More

Latest news

Destructive lionfish are invading Brazil

AnimalsInvasive lionfish, which have no native predators, have wreaked havoc in Florida and the Caribbean—and have now spread to...

Blind scientists adapted a centuries-old art to make data that can be touched and seen

Before photography, there was the lithophane.  It’s a thin slice of porcelain...

NASA’s oldest probe, Voyager 2, is turning 45 at the solar system’s edge

The year is 1977. Jimmy Carter is sworn in as President...
- Advertisement -spot_imgspot_imgspot_imgspot_img

Save $200 with these Labor Day Roomba deals on Amazon

Labor Day parties are fun. Cleaning up all the crumbs, dirt,...

Captive fish have feelings we’re just beginning to understand

The next time you go for a swim, try this: Close...

Must read

Ally All Ears Podcast | building customer loyalty during challenging times

Amy Sudik, senior director of marketing for Ally discuss...

Dodge’s Charger Daytona SRT Concept will make plenty of noise despite being an EV

Dodge's electric muscle car is on the way, and...

2023 Porsche 911 GT3 RS is a track-focused coupe packing 518 hp

The track-focused 2023 Porsche 911 GT3 RS debuts a...

Tesla denies report that legal chief who conducted internal probe has left

Tesla Inc. on Wednesday denied a report that it...
- Advertisement -spot_imgspot_imgspot_img

You might also likeRELATED
Recommended to you