Today, on what is being pegged as #UbisoftDay, Ubisoft is holding a shareholders meeting to determine its future. Over the past several months, Ubisoft has been buying back shares from its various shareholders in an attempt to stave off a hostile takeover by French media conglomerate Vivendi.

According to French journalist Guerric Poncet, Ubisoft CEO Yves Guillemot will keep his seat atop Ubisoft’s administrative board after securing 65% of the vote.

Earlier this week, the company bought back 3,625,178 of their shares held by Bpifrance ( a 3.2% overall stake). The shares were bought for $38 per share, which brings the total amount of the buyback to $137.9 million. The deal is expected to close by the start of November and is part of the company’s share buyback program, it said.

The shareholders meeting will continue throughout the day and we will have more coverage as news begins to break.

For more stick with Gamer Assault Weekly.

 

About The Author

Evan W
Senior Staff Writer/Review/Editorial Writer

Evan discovered gaming with Sonic the Hedgehog on the Sega Genesis and never looked back. He has spent the last 20 years criss-crossing genres and platforms, and is an equal opportunity rager, breaking consoles and PCs alike. If you spent summer days off from middle school playing classic PC shooters instead of developing a tan and social skills, you've got a friend in him. Mom might not understand the pain of being "180NOSCOPEWTFPWNED, SON!", but he does. Oh, he does.