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Vivendi buys out Guillemot family to seal Gameloft takeover

"The family maintains that Vivendi's hostile approach goes against the best interest of Gameloft, both for its activity and for its teams."

French media group Vivendi will cement its hostile takeover of Gameloft by buying out company founders, the Guillemots. 

As reported by The Wall Street Journal, the family -- who also formed fellow French studio, Ubisoft -- say they are stepping away "with regret."

"The family maintains that Vivendi's hostile approach goes against the best interest of Gameloft, both for its activity and for its teams," they said in a statement. 

It’s believed Vivendi will pick up the majority of the Guillemot's 21.7 percent stake in the Modern Combat developer. 

Earlier this month Bloomberg reported that Gameloft CEO Michel Guillemot would resign following Vivendi’s successful hostile takeover. 

In a recent letter sent from Vivendi to Gameloft employees, the company justified the aggressive move by explaining it would give both firms a "stronger presence on the worldwide entertainment market."

"In a buoyant digital environment that favors convergence between creative industries, the joining of Vivendi and Gameloft offers opportunities for cooperation in many areas: the co-creation of content, the development of new franchises, the building of wider communities and audiences and the pooling of our distribution networks, among other examples,” continued the letter. 

Once the Gameloft takeover has been completed Vivendi will likely turn its attentions towards Ubisoft, with the company recently upping its stake in the Assassin's Creed creator to 17.7 percent.

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